First Trust Advisors LP Cuts Position in Workiva Inc. $WK

First Trust Advisors LP trimmed its position in shares of Workiva Inc. (NYSE:WK) by 15.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,760 shares of the software maker’s stock after selling 151,587 shares during the period. First Trust Advisors LP owned approximately 1.45% of Workiva worth $69,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Workiva by 287.8% in the third quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock worth $25,000 after purchasing an additional 213 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Workiva by 217.9% during the third quarter. EverSource Wealth Advisors LLC now owns 391 shares of the software maker’s stock valued at $34,000 after purchasing an additional 268 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Workiva during the second quarter valued at $51,000. Essex Investment Management Co. LLC purchased a new position in shares of Workiva in the 3rd quarter worth $63,000. Finally, Smartleaf Asset Management LLC grew its stake 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 buying an additional 440 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Workiva Trading Down 2.9%

Shares of WK opened at $62.18 on Wednesday. The company’s fifty day simple moving average is $73.34 and its 200-day simple moving average is $81.71. The company has a market cap of $3.53 billion, a P/E ratio of -129.55 and a beta of 0.65. Workiva Inc. has a twelve month low of $56.06 and a twelve month high of $97.10.

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

Workiva announced that its Board of Directors has authorized a stock repurchase program on Monday, February 16th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WK shares. Stifel Nicolaus decreased their target price on shares of Workiva from $98.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Raymond James Financial reiterated an “outperform” rating and issued a $105.00 price target on shares of Workiva in a research report on Wednesday, December 10th. Stephens set a $90.00 price objective on Workiva in a research note on Friday, February 20th. The Goldman Sachs Group restated a “buy” rating and set a $102.00 price objective on shares of Workiva in a research report on Friday, February 20th. Finally, BMO Capital Markets lowered their price objective on Workiva from $92.00 to $83.00 and set an “outperform” rating for the company in a research note 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. According to data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and an average price target of $95.38.

About Workiva

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.