Workiva Inc. (NYSE:WK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Workiva Inc. (NYSE:WK) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,564 shares of the software maker’s stock after selling 26,555 shares during the quarter. Federated Hermes Inc.’s holdings in Workiva were worth $3,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of WK. Nisa Investment Advisors LLC grew its stake in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker’s stock valued at $562,000 after acquiring an additional 135 shares during the period. Park Avenue Securities LLC grew its position in shares of Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker’s stock worth $499,000 after acquiring an additional 198 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Workiva by 1.6% in the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker’s stock valued at $1,552,000 after acquiring an additional 224 shares during the period. Finally, Twin Tree Management LP purchased a new stake in Workiva in the 4th quarter valued at $25,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Stock Performance

NYSE:WK opened at $66.29 on Friday. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83. The stock has a fifty day moving average price of $83.68 and a two-hundred day moving average price of $91.57. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -72.06 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WK shares. Stephens began coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price objective on the stock. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. Citigroup upped their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on Workiva from $132.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial cut their price target on Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.78.

Insider Transactions at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company’s stock, valued at $5,236,688.14. The trade was a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock valued at $1,807,333 in the last ninety days. 3.86% of the stock is currently owned by company insiders.

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.