Workiva Inc. (NYSE:WK) Sees Significant Decline in Short Interest

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

Insider Activity

In related news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction 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 transaction, the director now directly owns 34,084 shares in the company, valued at approximately $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.05% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. World Investment Advisors raised its holdings in shares of Workiva by 2.7% during the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after purchasing an additional 135 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Workiva by 1.6% during the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after purchasing an additional 224 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Workiva by 8.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker's stock worth $214,000 after purchasing an additional 225 shares during the last quarter. Twin Tree Management LP acquired a new stake in Workiva during the fourth quarter valued at $25,000. Finally, Xponance Inc. grew its position in Workiva by 6.7% during the first quarter. Xponance Inc. now owns 3,850 shares of the software maker's stock valued at $292,000 after buying an additional 241 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Trading Up 1.4%

Shares of NYSE WK traded up $0.96 during midday trading on Friday, reaching $69.24. The company had a trading volume of 449,937 shares, compared to its average volume of 532,364. The business's 50-day simple moving average is $68.95 and its 200 day simple moving average is $87.83. The stock has a market cap of $3.86 billion, a P/E ratio of -75.27 and a beta of 0.98. Workiva has a 1 year low of $60.50 and a 1 year high of $116.83.

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

Analyst Upgrades and Downgrades

WK has been the subject of several research analyst reports. Stephens restated an "overweight" rating and set a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Raymond James reduced their price objective on Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, BNP Paribas began coverage on Workiva in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Workiva has an average rating of "Moderate Buy" and an average price target of $106.30.

Workiva Company Profile

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.