Workiva Inc (NYSE:WK) Sees Large Increase in Short Interest

Workiva Inc (NYSE:WK) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,880,000 shares, a growth of 5.0% from the January 15th total of 1,790,000 shares. Based on an average trading volume of 251,900 shares, the days-to-cover ratio is presently 7.5 days. Approximately 5.8% of the company’s shares are sold short.

Several research firms have weighed in on WK. Goldman Sachs Group began coverage on shares of Workiva in a research note on Monday, November 11th. They issued a “neutral” rating and a $46.00 price objective on the stock. Zacks Investment Research reiterated a “sell” rating on shares of Workiva in a research note on Saturday, January 11th. ValuEngine upgraded shares of Workiva from a “hold” rating to a “buy” rating in a research note on Saturday, February 1st. Finally, Northland Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Workiva in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.20.

In other news, CAO Jill Klindt sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $42.05, for a total transaction of $504,600.00. Following the sale, the chief accounting officer now owns 28,090 shares in the company, valued at $1,181,184.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Herz sold 1,243 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $42.29, for a total transaction of $52,566.47. Following the sale, the director now owns 96,643 shares in the company, valued at approximately $4,087,032.47. The disclosure for this sale can be found here. Insiders have sold 16,814 shares of company stock worth $707,863 in the last 90 days. 18.46% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in WK. Jane Street Group LLC raised its stake in shares of Workiva by 145.7% in the 4th quarter. Jane Street Group LLC now owns 12,199 shares of the software maker’s stock valued at $513,000 after buying an additional 7,233 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Workiva by 9.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 34,393 shares of the software maker’s stock valued at $1,446,000 after buying an additional 3,079 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Workiva by 14.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 388,823 shares of the software maker’s stock valued at $16,350,000 after buying an additional 48,394 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Workiva by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 174,654 shares of the software maker’s stock valued at $7,344,000 after buying an additional 3,470 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Workiva by 30.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 218,737 shares of the software maker’s stock valued at $9,198,000 after buying an additional 50,599 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Workiva stock opened at $47.57 on Friday. The firm has a market cap of $2.15 billion, a PE ratio of -55.31 and a beta of 0.91. The company has a debt-to-equity ratio of 4.48, a quick ratio of 2.63 and a current ratio of 2.63. The firm’s 50 day moving average price is $45.03 and its two-hundred day moving average price is $45.41. Workiva has a twelve month low of $38.05 and a twelve month high of $64.11.

Workiva Company Profile

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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