Federated Hermes Inc. Sells 13,406 Shares of Workiva Inc. (NYSE:WK)

Federated Hermes Inc. trimmed its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 10.9% during 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 quarter. Federated Hermes Inc. owned 0.20% of Workiva worth $11,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Workiva during the 3rd quarter valued at $54,000. SG Americas Securities LLC acquired a new position in shares of Workiva during the 4th quarter valued at $107,000. GPS Wealth Strategies Group LLC lifted its position in shares of Workiva by 19.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,075 shares of the software maker's stock valued at $109,000 after acquiring an additional 175 shares during the period. Vinva Investment Management Ltd acquired a new position in shares of Workiva during the 3rd quarter valued at $162,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Workiva by 261.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,117 shares of the software maker's stock valued at $215,000 after acquiring an additional 1,531 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the firm's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the transaction, the executive vice president now owns 62,453 shares of the company's stock, valued at $5,846,849.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on WK shares. Stifel Nicolaus decreased their price target on shares of Workiva from $92.00 to $85.00 and set a "hold" rating for the company in a research note on Wednesday, February 21st. Citigroup reduced their target price on shares of Workiva from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, BMO Capital Markets reduced their target price on shares of Workiva from $123.00 to $113.00 and set an "outperform" rating for the company in a research note on Wednesday, February 21st. Two equities 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.63.

Workiva Price Performance

NYSE WK traded down $0.23 on Wednesday, reaching $80.06. 245,245 shares of the company's stock traded hands, compared to its average volume of 381,461. Workiva Inc. has a 12 month low of $76.63 and a 12 month high of $116.00. The stock has a market cap of $4.38 billion, a PE ratio of -33.78 and a beta of 1.03. The stock has a 50-day simple moving average of $83.95 and a 200 day simple moving average of $91.62.

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

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.