Workiva Inc (NYSE:WK)’s share price shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $22.95 and last traded at $22.90. 651,191 shares changed hands during mid-day trading, an increase of 178% from the average session volume of 234,615 shares. The stock had previously closed at $21.65.
Several brokerages have issued reports on WK. Stifel Nicolaus upped their price target on shares of Workiva from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. ValuEngine upgraded shares of Workiva from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Credit Suisse Group increased their price objective on shares of Workiva from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Workiva from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, SunTrust Banks reiterated a “buy” rating and set a $24.00 price objective on shares of Workiva in a research report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Workiva currently has an average rating of “Hold” and an average price target of $23.86.
The company has a debt-to-equity ratio of -1.09, a quick ratio of 0.89 and a current ratio of 0.89.
In related news, major shareholder Jerome M. Behar sold 46,000 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.15, for a total transaction of $1,018,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Jerome M. Behar sold 50,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $22.95, for a total transaction of $1,147,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,923 shares of company stock worth $6,004,525. 33.29% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in Workiva during the fourth quarter worth $240,000. TIAA CREF Investment Management LLC boosted its stake in Workiva by 27.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 138,205 shares of the software maker’s stock worth $2,958,000 after acquiring an additional 29,900 shares in the last quarter. Two Sigma Investments LP boosted its stake in Workiva by 47.3% during the fourth quarter. Two Sigma Investments LP now owns 145,610 shares of the software maker’s stock worth $3,116,000 after acquiring an additional 46,752 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Workiva by 29.1% during the fourth quarter. Two Sigma Advisers LP now owns 168,700 shares of the software maker’s stock worth $3,610,000 after acquiring an additional 38,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Workiva during the fourth quarter worth $337,000. 38.52% of the stock is currently owned by institutional investors and hedge funds.
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Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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