Readystate Asset Management LP Purchases New Position in Workiva Inc. $WK

Readystate Asset Management LP purchased a new stake in shares of Workiva Inc. (NYSE:WK) in the third quarter, Holdings Channel.com reports. The firm purchased 371,224 shares of the software maker’s stock, valued at approximately $31,955,000. Workiva accounts for about 1.4% of Readystate Asset Management LP’s holdings, making the stock its 11th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Wealth Asset Management LLC grew its holdings in Workiva by 1,731.7% during the third quarter. Private Wealth Asset Management LLC now owns 75,100 shares of the software maker’s stock worth $6,465,000 after buying an additional 71,000 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Workiva by 50.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,368,401 shares of the software maker’s stock worth $115,589,000 after acquiring an additional 460,540 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Workiva by 19.8% in the third quarter. Impax Asset Management Group plc now owns 136,086 shares of the software maker’s stock valued at $11,714,000 after purchasing an additional 22,500 shares during the last quarter. Ranger Investment Management L.P. lifted its position in shares of Workiva by 39.5% during the third quarter. Ranger Investment Management L.P. now owns 312,045 shares of the software maker’s stock valued at $26,861,000 after purchasing an additional 88,425 shares in the last quarter. Finally, Pembroke Management LTD purchased a new position in Workiva during the third quarter worth about $36,185,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $110.00 target price on shares of Workiva in a research report on Thursday, November 6th. Truist Financial boosted their price objective on Workiva from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Raymond James Financial restated an “outperform” rating and issued a $105.00 price objective on shares of Workiva in a research note on Wednesday, December 10th. BTIG Research assumed coverage on shares of Workiva in a report on Tuesday, December 16th. They issued a “buy” rating and a $105.00 price target on the stock. Finally, Stephens increased their price target 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. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.92.

Workiva Stock Performance

Shares of WK opened at $57.94 on Wednesday. Workiva Inc. has a fifty-two week low of $57.41 and a fifty-two week high of $97.10. The business has a 50-day moving average of $81.21 and a 200 day moving average of $83.30. The firm has a market cap of $3.25 billion, a P/E ratio of -68.97 and a beta of 0.62.

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.