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

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. lessened its stake in Workiva Inc. (NYSE:WK - Free Report) by 22.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after purchasing an additional 360 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Workiva by 109.2% in the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after buying an additional 296 shares during the last quarter. Global Wealth Strategies & Associates acquired a new position in shares of Workiva in the 1st quarter valued at about $53,000. Johnson Financial Group Inc. bought a new stake in shares of Workiva during the 4th quarter valued at about $66,000. Finally, GeoWealth Management LLC grew its position in shares of Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after buying an additional 602 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WK has been the subject of a number of research reports. Citigroup restated a "buy" rating and issued a $105.00 target price (down from $108.00) on shares of Workiva in a research note on Wednesday, July 16th. Stephens reissued an "overweight" rating and issued a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Raymond James Financial lowered their price objective on Workiva from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Wall Street Zen raised Workiva from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Workiva from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, August 1st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Workiva currently has a consensus rating of "Buy" and a consensus target price of $99.22.

Workiva Price Performance

Shares of Workiva stock traded down $2.43 on Friday, hitting $73.51. The company had a trading volume of 946,812 shares, compared to its average volume of 843,130. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The company has a market cap of $4.10 billion, a PE ratio of -61.26 and a beta of 0.86. The business has a 50-day simple moving average of $68.89 and a 200-day simple moving average of $76.23.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly 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 firm had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. During the same period in the previous year, the business posted $0.16 earnings per share. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. On average, equities research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

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.