Irenic Capital Management LP Purchases New Stake in Workiva Inc. $WK

Irenic Capital Management LP acquired a new position in shares of Workiva Inc. (NYSE:WK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 497,010 shares of the software maker’s stock, valued at approximately $42,783,000. Workiva comprises approximately 4.5% of Irenic Capital Management LP’s holdings, making the stock its 4th largest holding. Irenic Capital Management LP owned 0.89% of Workiva at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Eminence Capital LP boosted its position in shares of Workiva by 209.6% during the 2nd quarter. Eminence Capital LP now owns 2,646,768 shares of the software maker’s stock valued at $181,171,000 after acquiring an additional 1,791,768 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Workiva during the second quarter worth about $88,677,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Workiva during the third quarter worth about $88,289,000. Norges Bank purchased a new position in Workiva during the second quarter worth about $40,230,000. Finally, Nordea Investment Management AB boosted its holdings in Workiva by 50.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,368,401 shares of the software maker’s stock valued at $115,589,000 after purchasing an additional 460,540 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Workiva Stock Up 0.3%

WK opened at $61.52 on Monday. Workiva Inc. has a 52 week low of $56.06 and a 52 week high of $97.10. The business has a fifty day simple moving average of $71.93 and a 200-day simple moving average of $81.34. The firm has a market cap of $3.50 billion, a P/E ratio of -128.17 and a beta of 0.65.

Workiva (NYSE:WK) last posted its quarterly earnings data on Thursday, February 19th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.10. The firm had revenue of $238.94 million during the quarter, compared to analysts’ expectations of $235.13 million. During the same quarter in the prior year, the firm posted $0.35 EPS. Workiva’s quarterly revenue was up 19.5% compared to the same quarter last year. Workiva has set its FY 2026 guidance at 2.660-2.760 EPS and its Q1 2026 guidance at 0.640-0.670 EPS. Sell-side analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

Workiva declared that its Board of Directors has authorized a share repurchase plan on Monday, February 16th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the software maker to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $90.00 price target (down from $110.00) on shares of Workiva in a report on Friday, February 20th. Stifel Nicolaus decreased their price objective on Workiva from $98.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group reissued a “buy” rating and set a $102.00 target price on shares of Workiva in a research note on Friday, February 20th. Stephens set a $90.00 price target on Workiva in a report on Friday, February 20th. Finally, BTIG Research cut their price objective on Workiva from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.38.

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.