Federated Hermes Inc. Sells 26,555 Shares of Workiva Inc. (NYSE:WK)

Federated Hermes Inc. trimmed its stake in Workiva Inc. (NYSE:WK - Free Report) by 45.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,564 shares of the software maker's stock after selling 26,555 shares during the quarter. Federated Hermes Inc. owned 0.06% of Workiva worth $3,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Workiva by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after buying an additional 70,820 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Workiva by 13.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock worth $127,570,000 after acquiring an additional 140,310 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock worth $90,597,000 after purchasing an additional 35,029 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Workiva by 11.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock valued at $89,197,000 after purchasing an additional 86,207 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in Workiva by 19.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker's stock worth $61,316,000 after purchasing an additional 92,192 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Workiva

In other Workiva news, CFO Jill Klindt sold 5,593 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the transaction, the chief financial officer now owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. The trade was a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. The trade was a 3.82 % decrease in their position. 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 90 days. 3.86% of the stock is owned by corporate insiders.

Workiva Stock Performance

NYSE WK traded down $2.07 during trading on Wednesday, reaching $67.35. 544,870 shares of the company traded hands, compared to its average volume of 490,903. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -73.21 and a beta of 1.02. The stock's 50 day moving average price is $82.38 and its two-hundred day moving average price is $91.42.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WK. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target for the company in a research note on Friday, January 3rd. Truist Financial cut their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, April 7th. BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Citigroup increased their price objective on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Stephens assumed coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Workiva currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.78.

About Workiva

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.