Workiva Inc. (NYSE:WK) Short Interest Down 15.3% in May

Workiva Inc. (NYSE:WK - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,830,000 shares, a drop of 15.3% from the April 30th total of 2,160,000 shares. Based on an average daily trading volume, of 759,700 shares, the short-interest ratio is currently 2.4 days. Approximately 3.4% of the company's shares are sold short.

Workiva Stock Performance

NYSE WK traded up $0.16 during trading on Thursday, hitting $68.07. The stock had a trading volume of 388,161 shares, compared to its average volume of 531,246. Workiva has a 12 month low of $60.50 and a 12 month high of $116.83. The company's 50-day moving average price is $69.24 and its two-hundred day moving average price is $88.13. The company has a market capitalization of $3.79 billion, a PE ratio of -73.99 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. During the same period last year, the business posted $0.22 EPS. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities analysts anticipate that Workiva will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WK shares. Raymond James decreased their price objective on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus reduced their price target on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, BNP Paribas initiated coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Workiva presently has a consensus rating of "Moderate Buy" and an average target price of $106.30.

Insider Activity

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the transaction, the executive vice president now owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. Company insiders own 4.05% of the company's stock.

Institutional Trading of Workiva

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Workiva by 4.1% in the first quarter. Rhumbline Advisers now owns 74,495 shares of the software maker's stock valued at $5,655,000 after purchasing an additional 2,921 shares in the last quarter. Strs Ohio acquired a new stake in shares of Workiva in the 1st quarter valued at approximately $319,000. Acadian Asset Management LLC bought a new position in shares of Workiva in the first quarter valued at $3,959,000. Intech Investment Management LLC increased its holdings in Workiva by 46.1% during the first quarter. Intech Investment Management LLC now owns 28,118 shares of the software maker's stock worth $2,134,000 after buying an additional 8,866 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Workiva during the first quarter worth $39,000. Institutional investors and hedge funds own 92.21% of the company's stock.

About Workiva

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.