Federated Hermes Inc. Has $1.85 Million Holdings in Workiva Inc. (NYSE:WK)

Key Points

• Federated Hermes Inc. has reduced its stake in Workiva Inc. by 22.9%, selling 7,227 shares and retaining 24,337 shares valued at approximately $1.85 million.
• Workiva's stock is trading at $77.91, with a one-year trading range between $60.50 and $116.83, indicating a market cap of about $4.34 billion.
• The company's last quarterly earnings surpassed expectations, reporting an EPS of $0.19 against a consensus estimate of $0.05, with revenues up by 21.2% year-over-year.

Federated Hermes Inc. cut its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,337 shares of the software maker's stock after selling 7,227 shares during the period. Federated Hermes Inc.'s holdings in Workiva were worth $1,847,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Summit Creek Advisors LLC acquired a new stake in shares of Workiva in the first quarter valued at $5,219,000. IVY Lane Capital Management LLC bought a new stake in Workiva in the first quarter worth about $4,706,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Workiva by 4.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,269 shares of the software maker's stock valued at $1,007,000 after acquiring an additional 586 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Workiva by 8.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker's stock valued at $214,000 after purchasing an additional 225 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its position in shares of Workiva by 39.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 28,163 shares of the software maker's stock valued at $2,138,000 after purchasing an additional 8,000 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WK has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of Workiva from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $105.00 price objective (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Stephens restated an "overweight" rating and issued a $95.00 target price on shares of Workiva in a report on Thursday, May 22nd. BNP Paribas began coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price for the company. Finally, Robert W. Baird set a $105.00 price target on Workiva in a research report on Wednesday, June 25th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Workiva presently has a consensus rating of "Buy" and a consensus target price of $99.22.

Workiva Stock Performance

Shares of NYSE:WK traded down $2.11 during midday trading on Thursday, hitting $75.84. 981,865 shares of the stock were exchanged, compared to its average volume of 690,387. The business's fifty day simple moving average is $68.76 and its two-hundred day simple moving average is $76.51. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The company has a market capitalization of $4.23 billion, a PE ratio of -63.20 and a beta of 0.86.

Workiva (NYSE:WK - Get Free Report) last posted its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.14. The business had revenue of $215.19 million during the quarter, compared to analyst estimates of $208.92 million. During the same quarter last year, the firm earned $0.16 earnings per share. Workiva's revenue was up 21.2% compared to the same quarter last year. As a group, equities analysts anticipate that Workiva Inc. will post -0.92 EPS for the current year.

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.