Comerica Bank Grows Holdings in Workiva Inc. $WK

Comerica Bank raised its position in Workiva Inc. (NYSE:WK) by 17.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,277 shares of the software maker’s stock after purchasing an additional 15,147 shares during the period. Comerica Bank’s holdings in Workiva were worth $7,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Workiva by 109.2% in the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Workiva in the 1st quarter valued at about $877,000. GAMMA Investing LLC lifted its holdings in Workiva by 8,443.7% in the 1st quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker’s stock valued at $1,602,000 after purchasing an additional 20,856 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Workiva by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,596 shares of the software maker’s stock valued at $1,488,000 after purchasing an additional 371 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Workiva by 4.1% in the 1st quarter. Rhumbline Advisers now owns 74,495 shares of the software maker’s stock valued at $5,655,000 after purchasing an additional 2,921 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WK has been the topic of a number of recent research reports. Robert W. Baird set a $105.00 target price on shares of Workiva in a report on Wednesday, June 25th. Stifel Nicolaus cut their price objective on shares of Workiva from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Raymond James Financial cut their price objective on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Stephens reiterated an “overweight” rating and set a $95.00 price objective on shares of Workiva in a report on Thursday, May 22nd. Finally, Citigroup reiterated a “buy” rating and set a $105.00 price objective (down from $108.00) on shares of Workiva in a report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Workiva currently has a consensus rating of “Buy” and an average target price of $99.22.

Workiva Stock Performance

WK opened at $80.37 on Thursday. The firm has a 50 day moving average price of $71.09 and a 200 day moving average price of $74.14. The company has a market cap of $4.50 billion, a PE ratio of -66.97 and a beta of 0.86. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83.

Workiva (NYSE:WK) last posted its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $215.19 million for the quarter, compared to analyst estimates of $208.92 million. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. On average, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

Workiva Company 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.