Federated Hermes Inc. Boosts Position in UiPath, Inc. $PATH

Federated Hermes Inc. lifted its holdings in shares of UiPath, Inc. (NYSE:PATH) by 40.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,048,321 shares of the company’s stock after acquiring an additional 2,328,225 shares during the quarter. Federated Hermes Inc. owned approximately 1.50% of UiPath worth $103,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PATH. Avantax Advisory Services Inc. purchased a new position in UiPath during the 1st quarter valued at $108,000. Cetera Investment Advisers lifted its position in shares of UiPath by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 74,696 shares of the company’s stock worth $769,000 after purchasing an additional 1,652 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of UiPath during the 1st quarter valued at about $156,000. PNC Financial Services Group Inc. increased its position in shares of UiPath by 30.5% during the first quarter. PNC Financial Services Group Inc. now owns 16,590 shares of the company’s stock valued at $171,000 after buying an additional 3,873 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock valued at $495,029,000 after buying an additional 1,396,972 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

PATH has been the subject of several research analyst reports. Cowen restated a “hold” rating on shares of UiPath in a report on Thursday. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of UiPath in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded UiPath from a “strong-buy” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $15.46.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 240,874 shares of UiPath stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $17.28, for a total value of $4,162,302.72. Following the completion of the transaction, the chief financial officer owned 696,117 shares of the company’s stock, valued at $12,028,901.76. The trade was a 25.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Dines sold 122,734 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the completion of the transaction, the chief executive officer owned 613,670 shares in the company, valued at approximately $9,137,546.30. The trade was a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,319,002 shares of company stock valued at $34,094,875 over the last 90 days. Corporate insiders own 23.19% of the company’s stock.

UiPath Stock Performance

PATH stock opened at $18.67 on Monday. The firm has a 50 day moving average price of $14.93 and a 200-day moving average price of $13.08. UiPath, Inc. has a 52-week low of $9.38 and a 52-week high of $18.98. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 6.93 and a beta of 1.10.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. UiPath had a return on equity of 3.83% and a net margin of 14.79%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. As a group, sell-side analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

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.