Irenic Capital Management LP Makes New Investment in Workiva Inc. $WK

Irenic Capital Management LP acquired a new position in shares of Workiva Inc. (NYSE:WK) during the third quarter, Holdings Channel reports. The institutional investor acquired 497,010 shares of the software maker’s stock, valued at approximately $42,783,000. Workiva comprises 4.5% of Irenic Capital Management LP’s portfolio, making the stock its 4th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Workiva by 287.8% in the 3rd quarter. GAMMA Investing LLC now owns 287 shares of the software maker’s stock valued at $25,000 after purchasing an additional 213 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Workiva by 217.9% during the third quarter. EverSource Wealth Advisors LLC now owns 391 shares of the software maker’s stock worth $34,000 after buying an additional 268 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Workiva during the third quarter worth about $63,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Workiva during the second quarter worth approximately $51,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Workiva by 52.6% during the third 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 during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Trading Up 0.3%

WK stock opened at $61.52 on Monday. The company has a market capitalization of $3.50 billion, a P/E ratio of -128.17 and a beta of 0.65. The business has a 50 day simple moving average of $71.93 and a 200-day simple moving average of $81.34. Workiva Inc. has a twelve month low of $56.06 and a twelve month high of $97.10.

Workiva (NYSE:WK) last announced its earnings results on Thursday, February 19th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.10. The business had revenue of $238.94 million during the quarter, compared to analyst estimates of $235.13 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The business’s 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. Research analysts predict that Workiva Inc. will post -0.92 EPS 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 buyback $250.00 million in shares. This buyback authorization allows the software maker to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

WK has been the subject of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Workiva in a research report on Wednesday, December 10th. Stifel Nicolaus reduced their price objective on shares of Workiva from $98.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Stephens set a $90.00 target price on shares of Workiva in a research report on Friday, February 20th. Truist Financial reiterated a “buy” rating and set a $90.00 price target (down from $110.00) on shares of Workiva in a research note on Friday, February 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $102.00 price target on shares of Workiva in a research report on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workiva presently has a consensus rating of “Moderate Buy” and an average target price 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.