Workiva Inc. (NYSE:WK - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,510,000 shares, a decrease of 15.8% from the March 15th total of 2,980,000 shares. Currently, 4.7% of the company's stock are short sold. Based on an average daily volume of 779,100 shares, the days-to-cover ratio is presently 3.2 days.
Workiva Price Performance
Shares of WK stock traded up $0.87 during trading on Friday, hitting $73.51. 269,461 shares of the stock traded hands, compared to its average volume of 495,194. The firm's fifty day moving average price is $78.64 and its 200-day moving average price is $90.94. The firm has a market capitalization of $4.13 billion, a P/E ratio of -79.90 and a beta of 1.02. Workiva has a 52-week low of $60.50 and a 52-week high of $116.83.
Insiders Place Their Bets
In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. This trade represents a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new position in Workiva in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC increased its stake in Workiva by 705.9% in the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Bessemer Group Inc. boosted its stake in Workiva by 109.2% in the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Global Wealth Strategies & Associates purchased a new position in Workiva during the 1st quarter worth approximately $53,000. Finally, Johnson Financial Group Inc. purchased a new stake in Workiva in the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 92.21% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on WK shares. BNP Paribas assumed coverage on shares of Workiva in a report on Tuesday. They set an "outperform" rating and a $100.00 target price for the company. Stifel Nicolaus dropped their price target on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Raymond James raised shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a report on Friday, January 3rd. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Citigroup boosted their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $112.90.
Read Our Latest Stock Report on WK
About Workiva
(
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Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.
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