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

Federated Hermes Inc. decreased its position in Workiva Inc. (NYSE:WK) by 10.9% in the fourth quarter, according to its most recent 13F filing 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. owned approximately 0.20% of Workiva worth $11,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Workiva by 2.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,195 shares of the software maker’s stock worth $1,035,000 after purchasing an additional 261 shares during the period. Wealth Alliance grew its position in Workiva by 4.8% during the 4th quarter. Wealth Alliance now owns 2,620 shares of the software maker’s stock worth $266,000 after purchasing an additional 121 shares during the period. Mackenzie Financial Corp grew its position in Workiva by 3.8% during the 4th quarter. Mackenzie Financial Corp now owns 2,970 shares of the software maker’s stock worth $302,000 after purchasing an additional 108 shares during the period. Ingalls & Snyder LLC grew its position in shares of Workiva by 0.9% during the 4th quarter. Ingalls & Snyder LLC now owns 49,878 shares of the software maker’s stock valued at $5,064,000 after acquiring an additional 438 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in shares of Workiva by 0.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 952,730 shares of the software maker’s stock valued at $96,731,000 after acquiring an additional 5,440 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Up 1.6 %

Shares of Workiva stock opened at $80.33 on Wednesday. Workiva Inc. has a twelve month low of $76.63 and a twelve month high of $116.00. The firm’s 50-day moving average price is $84.13 and its 200 day moving average price is $91.76.

Workiva (NYSE:WK) last issued its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. As a group, analysts anticipate that Workiva Inc. will post -0.91 earnings per share for the current year.

Insider Activity at Workiva

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

Analyst Ratings Changes

WK has been the topic of a number of analyst reports. BMO Capital Markets dropped their target price on Workiva from $123.00 to $113.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus dropped their target price on Workiva from $92.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. Finally, Citigroup dropped their target price on Workiva from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.63.

Workiva Company 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.