Workiva Inc. (NYSE:WK) Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Workiva Inc. (NYSE:WK) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,053 shares of the software maker’s stock after selling 4,876 shares during the quarter. Federated Hermes Inc. owned 0.13% of Workiva worth $5,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of WK. EntryPoint Capital LLC purchased a new stake in Workiva in the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC acquired a new position in shares of Workiva in the first quarter worth $45,000. RiverPark Advisors LLC raised its holdings in shares of Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares in the last quarter. Headlands Technologies LLC boosted its position in Workiva by 896.0% during the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after purchasing an additional 1,577 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Workiva by 7.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,800 shares of the software maker’s stock valued at $168,000 after purchasing an additional 132 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Stock Performance

Workiva stock opened at $77.28 on Thursday. The business’s 50-day simple moving average is $74.91 and its 200-day simple moving average is $77.78. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $109.91. The firm has a market capitalization of $4.27 billion, a PE ratio of -44.93 and a beta of 1.05.

Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts forecast that Workiva Inc. will post -0.86 earnings per share for the current year.

Insider Activity at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Citigroup boosted their target price on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Northland Securities cut their price target on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird decreased their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $96.00 target price on shares of Workiva in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Workiva has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.