Federated Hermes Inc. Increases Stock Holdings in UiPath Inc. (NYSE:PATH)

Federated Hermes Inc. increased its holdings in shares of UiPath Inc. (NYSE:PATH) by 857.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 458,126 shares of the healthcare company’s stock after acquiring an additional 410,288 shares during the period. Federated Hermes Inc.’s holdings in UiPath were worth $11,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new position in shares of UiPath during the 4th quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new position in UiPath in the 4th quarter valued at $40,000. FSC Wealth Advisors LLC purchased a new position in UiPath in the 4th quarter valued at $43,000. Fifth Third Bancorp lifted its holdings in UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in UiPath in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PATH. Mizuho raised their price objective on UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. BMO Capital Markets raised their price objective on UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. Canaccord Genuity Group raised their price objective on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 15th. Scotiabank raised their price objective on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Finally, TD Cowen raised their target price on UiPath from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.41.

UiPath Price Performance

Shares of NYSE:PATH opened at $19.54 on Wednesday. The business has a 50-day moving average price of $22.55 and a 200 day moving average price of $21.56. UiPath Inc. has a 12-month low of $12.38 and a 12-month high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $405.25 million during the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. Equities analysts predict that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total value of $365,440.00. Following the completion of the transaction, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 72,000 shares of company stock valued at $1,591,360. 31.03% of the stock is currently owned by insiders.

About UiPath

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.