Short Interest in Workiva Inc (NYSE:WK) Increases By 5.9%

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Workiva Inc (NYSE:WK) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 1,388,400 shares, a growth of 5.9% from the May 30th total of 1,310,500 shares. Based on an average daily trading volume, of 362,500 shares, the days-to-cover ratio is presently 3.8 days. Approximately 4.8% of the shares of the stock are sold short.

In other news, VP Jeff D. Trom sold 20,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.75, for a total transaction of $995,000.00. Following the completion of the transaction, the vice president now owns 274,998 shares of the company’s stock, valued at $13,681,150.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin J. Vanderploeg sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $60.80, for a total value of $1,520,000.00. Following the transaction, 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 a total of 201,585 shares of company stock valued at $11,038,355 in the last ninety days. Insiders own 18.46% of the company’s stock.

Several hedge funds have recently modified their holdings of WK. Federated Investors Inc. PA lifted its stake in Workiva by 2.5% during the first quarter. Federated Investors Inc. PA now owns 330,375 shares of the software maker’s stock worth $16,750,000 after purchasing an additional 8,155 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Workiva by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 308,075 shares of the software maker’s stock worth $11,056,000 after buying an additional 16,882 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Workiva by 36.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 281,597 shares of the software maker’s stock worth $14,277,000 after buying an additional 75,790 shares in the last quarter. Redwood Investments LLC bought a new stake in Workiva during the first quarter worth approximately $12,024,000. Finally, American Century Companies Inc. boosted its holdings in Workiva by 31.2% during the fourth quarter. American Century Companies Inc. now owns 228,108 shares of the software maker’s stock worth $8,187,000 after buying an additional 54,310 shares in the last quarter. 51.48% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the company. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, July 5th. SunTrust Banks boosted their price objective on Markel to $1,100.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Workiva has a consensus rating of “Buy” and a consensus price target of $45.67.

NYSE WK opened at $58.73 on Wednesday. The stock has a market cap of $2.74 billion, a PE ratio of -63.15 and a beta of 0.97. The company’s 50 day moving average price is $56.90. 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 has a 1-year low of $24.75 and a 1-year high of $61.76.

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

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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