Readystate Asset Management LP Acquires New Stake in Workiva Inc. $WK

Readystate Asset Management LP bought a new position in shares of Workiva Inc. (NYSE:WK) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 371,224 shares of the software maker’s stock, valued at approximately $31,955,000. Workiva accounts for 1.4% of Readystate Asset Management LP’s holdings, making the stock its 11th biggest holding. Readystate Asset Management LP owned approximately 0.66% of Workiva as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WK. GAMMA Investing LLC raised 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 during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Workiva during the 2nd quarter valued at approximately $51,000. Essex Investment Management Co. LLC bought a new position in Workiva during the 3rd quarter worth approximately $63,000. Smartleaf Asset Management LLC lifted its position in shares of Workiva by 52.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,276 shares of the software maker’s stock worth $109,000 after purchasing an additional 440 shares during the period. Finally, State of Wyoming lifted its position in shares of Workiva by 15.4% in the 3rd quarter. State of Wyoming now owns 1,553 shares of the software maker’s stock worth $134,000 after purchasing an additional 207 shares during the period. Institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of Workiva stock opened at $57.94 on Wednesday. The business has a 50-day simple moving average of $81.21 and a 200 day simple moving average of $83.30. Workiva Inc. has a one year low of $57.41 and a one year high of $97.10. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -68.97 and a beta of 0.62.

Analysts Set New Price Targets

WK has been the subject of a number of analyst reports. BTIG Research assumed coverage on shares of Workiva in a research note on Tuesday, December 16th. They set a “buy” rating and a $105.00 target price for the company. UBS Group set a $110.00 price objective on Workiva in a research note on Sunday, November 9th. Stifel Nicolaus set a $98.00 target price on Workiva in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Workiva in a report on Wednesday, January 21st. Finally, Truist Financial increased their price target on Workiva from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Workiva 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.