Ranger Investment Management L.P. Buys 88,425 Shares of Workiva Inc. $WK

Ranger Investment Management L.P. grew its stake in shares of Workiva Inc. (NYSE:WK) by 39.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,045 shares of the software maker’s stock after buying an additional 88,425 shares during the period. Workiva makes up 1.9% of Ranger Investment Management L.P.’s portfolio, making the stock its 22nd biggest position. Ranger Investment Management L.P. owned approximately 0.56% of Workiva worth $26,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Workiva by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 14,586 shares of the software maker’s stock worth $1,256,000 after buying an additional 195 shares during the period. State of Wyoming boosted its holdings in shares of Workiva by 15.4% in the third quarter. State of Wyoming now owns 1,553 shares of the software maker’s stock valued at $134,000 after buying an additional 207 shares during the period. GAMMA Investing LLC increased its position in shares of Workiva by 287.8% during the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after acquiring an additional 213 shares in the last quarter. Wealth Alliance LLC raised its holdings in shares of Workiva by 8.2% during the second quarter. Wealth Alliance LLC now owns 3,122 shares of the software maker’s stock worth $214,000 after acquiring an additional 236 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Workiva by 8.0% during the third quarter. Principal Financial Group Inc. now owns 3,850 shares of the software maker’s stock worth $331,000 after acquiring an additional 286 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Workiva Stock Down 0.3%

Workiva stock opened at $70.96 on Friday. The firm has a 50 day moving average price of $85.52 and a 200-day moving average price of $83.32. The company has a market capitalization of $3.98 billion, a P/E ratio of -84.04 and a beta of 0.62. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $103.50.

Workiva (NYSE:WK) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. The business had revenue of $224.17 million for the quarter, compared to the consensus estimate of $218.96 million. The business’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. Equities analysts expect that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WK has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $110.00 price objective on shares of Workiva in a research report on Thursday, November 6th. BTIG Research initiated coverage on Workiva in a research report on Tuesday, December 16th. They set a “buy” rating and a $105.00 price target on the stock. Stephens increased their price objective on shares of Workiva from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. BMO Capital Markets lifted their price target on Workiva from $100.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Workiva in a research report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Workiva Company Profile

Workiva, originally founded as WebFilings in 2008, delivers a cloud-native platform designed to streamline and connect data, documents and teams for reporting and compliance. Its flagship Workiva platform supports a range of applications including financial reporting, regulatory filings, internal controls documentation, risk management and environmental, social and governance (ESG) disclosures. By centralizing data and automating workflows, the company helps organizations improve accuracy, transparency and auditability across critical reporting processes.

The Workiva platform offers modular solutions that integrate with existing enterprise systems and data sources.