Federated Hermes Inc. Trims Stock Position in Workiva Inc. (NYSE:WK)

Federated Hermes Inc. cut its stake in Workiva Inc. (NYSE:WK) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,545 shares of the software maker’s stock after selling 13,406 shares during the period. Federated Hermes Inc.’s holdings in Workiva were worth $11,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of Workiva in the third quarter valued at about $54,000. SG Americas Securities LLC purchased a new stake in shares of Workiva in the fourth quarter valued at about $107,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Workiva by 19.4% in the third quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker’s stock valued at $109,000 after buying an additional 175 shares during the last quarter. Vinva Investment Management Ltd purchased a new stake in shares of Workiva in the third quarter valued at about $162,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Workiva by 261.3% in the third quarter. SRS Capital Advisors Inc. now owns 2,117 shares of the software maker’s stock valued at $215,000 after buying an additional 1,531 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Workiva from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets dropped their price target on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus dropped their price target on shares of Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.63.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the transaction, the executive vice president now directly owns 62,453 shares in the company, valued at $5,846,849.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.71% of the stock is currently owned by company insiders.

Workiva Stock Performance

Shares of WK opened at $80.33 on Wednesday. The firm’s 50-day moving average is $84.13 and its two-hundred day moving average is $91.76. Workiva Inc. has a twelve month low of $76.63 and a twelve month high of $116.00.

Workiva (NYSE:WK) last issued its earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analyst estimates of $164.44 million. On average, sell-side analysts predict that Workiva Inc. will post -0.91 earnings per share for the current year.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.