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

Workiva Inc (NYSE:WK) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,564,200 shares, a growth of 9.1% from the April 30th total of 1,434,300 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average trading volume of 342,900 shares, the short-interest ratio is presently 4.6 days.

WK traded down $0.47 during trading on Friday, reaching $60.75. 201,378 shares of the company’s stock were exchanged, compared to its average volume of 370,331. The firm has a fifty day moving average of $56.40. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -65.32 and a beta of 0.96. Workiva has a fifty-two week low of $24.35 and a fifty-two week high of $61.76. The company has a debt-to-equity ratio of 9.78, a current ratio of 0.98 and a quick ratio of 0.98.

Workiva (NYSE:WK) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $69.96 million for the quarter, compared to the consensus estimate of $69.11 million. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. Equities research analysts forecast that Workiva will post -1.1 earnings per share for the current year.

A number of brokerages recently weighed in on WK. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, July 5th. SunTrust Banks raised their price target on shares of Markel to $1,100.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Workiva presently has a consensus rating of “Buy” and a consensus target price of $45.67.

In related news, major shareholder Matthew M. Rizai sold 66,585 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $53.00, for a total value of $3,529,005.00. Following the completion of the sale, the insider now owns 260,011 shares in the company, valued at $13,780,583. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Martin J. Vanderploeg sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $60.80, for a total transaction of $1,520,000.00. Following the sale, the chief executive officer now directly owns 314,918 shares of the company’s stock, valued at approximately $19,147,014.40. The disclosure for this sale can be found here. Insiders have sold 201,585 shares of company stock valued at $11,038,355 over the last 90 days. Corporate insiders own 18.46% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. increased its stake in Workiva by 238.1% in the 4th quarter. Advisor Group Inc. now owns 710 shares of the software maker’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Macquarie Group Ltd. increased its stake in Workiva by 57.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,100 shares of the software maker’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Workiva in the 1st quarter valued at $89,000. Quantamental Technologies LLC acquired a new stake in Workiva in the 1st quarter valued at $177,000. Finally, Sage Rhino Capital LLC acquired a new stake in Workiva in the 1st quarter valued at $254,000. 51.48% of the stock is currently owned by institutional investors.

About Workiva

Workiva Inc provides cloud-based solutions for connected data, reporting, and compliance worldwide. The company offers Wdesk, a platform that provides data collection and linking, data integrations, controlled collaboration, granular permissions, process management, and full audit trail services; and Wdata, which includes data preparation tools, data connectors, and application programming interfaces that enable customers to create direct connections to their data.

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