Conestoga Capital Advisors LLC Buys 14,160 Shares of Workiva Inc. (NYSE:WK)

Conestoga Capital Advisors LLC raised its position in shares of Workiva Inc. (NYSE:WK) by 1.2% during the first quarter, HoldingsChannel reports. The fund owned 1,179,179 shares of the software maker’s stock after acquiring an additional 14,160 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Workiva were worth $89,511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WK. Allspring Global Investments Holdings LLC purchased a new stake in shares of Workiva in the fourth quarter worth approximately $5,210,000. Rhumbline Advisers grew its position in Workiva by 2.2% in the 4th quarter. Rhumbline Advisers now owns 71,574 shares of the software maker’s stock valued at $7,837,000 after acquiring an additional 1,563 shares during the last quarter. Truist Financial Corp purchased a new stake in Workiva in the fourth quarter worth $211,000. Atria Wealth Solutions Inc. bought a new stake in shares of Workiva during the fourth quarter worth $237,000. Finally, TimesSquare Capital Management LLC lifted its position in shares of Workiva by 19.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after purchasing an additional 92,192 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Up 3.2%

Shares of WK stock opened at $67.85 on Tuesday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -73.75 and a beta of 0.88. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The company’s 50 day moving average is $69.03 and its 200 day moving average is $86.51.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analysts’ expectations of $204.24 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. Analysts anticipate that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WK shares. Truist Financial cut their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Stifel Nicolaus dropped their target price on shares of Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets decreased their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Raymond James lowered their price target on Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, BNP Paribas initiated coverage on Workiva in a report on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.30.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.