Workiva Inc. (NYSE:WK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of 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 firm owned 31,564 shares of the software maker's stock after selling 26,555 shares during the period. Federated Hermes Inc. owned about 0.06% of Workiva worth $3,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WK. Nisa Investment Advisors LLC lifted its stake in shares of Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock valued at $159,000 after purchasing an additional 116 shares during the period. World Investment Advisors raised its position in shares of Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after acquiring an additional 135 shares during the period. Park Avenue Securities LLC raised its position in shares of Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after acquiring an additional 198 shares during the period. Arizona State Retirement System boosted its stake in shares of Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after acquiring an additional 224 shares in the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of Workiva during the 4th quarter valued at about $25,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Stock Up 0.2 %

WK traded up $0.14 during trading on Friday, reaching $67.54. The company's stock had a trading volume of 345,533 shares, compared to its average volume of 491,050. The firm has a fifty day simple moving average of $81.17 and a two-hundred day simple moving average of $91.18. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -73.41 and a beta of 1.02. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83.

Analyst Ratings Changes

A number of research firms recently weighed in on WK. BMO Capital Markets reduced their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Citigroup upped their target price on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Raymond James raised shares of Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. Stephens started coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective for the company. Finally, Truist Financial dropped their target price on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $114.33.

Insider Buying and Selling at Workiva

In related news, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jill Klindt sold 5,593 shares of the firm'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 sale, the chief financial officer now directly owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 in the last three months. 3.86% of the stock is owned by corporate insiders.

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.