WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Wolters Kluwer Legal & Regulatory (LR) integrates Generative Pre-training Transformer (GPT)-generated summaries of court rulings, transforming the way legal professionals assess and interpret case law. The GPT summarization feature significantly reduces the time spent on legal research, providing tens of thousands of GPT-generated summaries for quick understanding of court decisions, enabling easy categorization of relevance, and reducing the volume of documents requiring in-depth review. The company is redefining the landscape for legal professionals by harnessing artificial intelligence into its software and expert solutions, aligning with the increasing need for legal tech and AI-powered solutions by legal professionals. Wolters Kluwer LR tools and expert solutions are powered by AI to enhance legal research workflow, invoice management, and streamline contract lifecycle processes. The company is committed to data protection and AI principles, utilizing only internal data from Wolters Kluwer for the GPT algorithm, ensuring high standards of data integrity and security.

Wolters Kluwer (WKL) reports repurchasing 241,578 of its own ordinary shares for €31.0 million in the period from November 30, 2023, up to and including December 6, 2023, as part of the share buyback program announced on February 22, 2023. The cumulative amounts repurchased to date under this year’s buyback program are 8,239,494 shares for €934.9 million at an average share price of €113.46.

Wolters Kluwer (WKL) named a Leader in Enterprise Carbon Management software by Verdantix, achieving high scores in key data management categories. Enablon Vision platform recognized for data acquisition, aggregation, carbon emissions calculation, net zero program management, vision and strategy, organizational resources, and growth. Integration of ESG reporting and disclosure functionality into Enablon ESG Excellence solution announced. Hundreds of industry-leading enterprises and millions of users globally rely on Enablon solutions for EHS, ESG, Operational Excellence, and GRC.

Wolters Kluwer Legal & Regulatory U.S. (KLU) has acquired the European Investment Law and Arbitration Review, integrating it into Kluwer Arbitration. The review, now available online and in print, offers valuable analysis for arbitration professionals and academics. Starting in 2024, the Review will release two issues per year, covering important legal issues in European Investment Law and Arbitration.

Wolters Kluwer (WKL) has been recognized as a Leader in the 2023 Gartner Magic Quadrant for Financial Close and Consolidation Solutions, showcasing its completeness of vision and ability to execute. The CCH Tagetik platform offers end-to-end financial closing processes, including account reconciliation, AI-based transaction matching, financial and management reporting, and disclosure. Wolters Kluwer was also acknowledged in the 2023 Gartner Market Guide for Financial Reconciliation Solutions. The CCH Tagetik Financial Close & Consolidation platform enhances the speed and accuracy of financial close processes, automating close-adjacent processes like ESG and sustainability performance management. The latest functionality introduced in 2023 enables users to incorporate corporate tax data, including Global Minimum Tax calculations, into their financial close and consolidation processes.

Wolters Kluwer (WTKWY) has received validation from the Science Based Targets initiative (SBTi) for its near-term science-based emissions reduction targets, aligning with the COP21 Paris Agreement and the COP26 Glasgow Climate Pact. The company is committed to reducing its environmental impact and has set long-term emission reduction targets with the SBTi in line with reaching net-zero by 2050. The validated emissions reduction targets include reducing absolute scope 1 and 2 GHG emissions by 50% and scope 3 GHG emissions by 30% by 2030 from a 2019 base year. Efforts to achieve these targets involve reducing energy consumption from offices, moving to renewable electricity, and decarbonizing the supply chain. Wolters Kluwer aims to inform stakeholders of its progress in its Annual Reports.

Wolters Kluwer Legal & Regulatory U.S. (Wolters Kluwer) and Vienna International Arbitral Centre (VIAC) collaborate to provide Kluwer Arbitration users with access to select anonymized summaries of arbitral awards. The summaries are indexed and redacted by VIAC, offering valuable guidance and insights to users. The collaboration was made possible through Wolters Kluwer's ongoing cooperation agreement with the Institute for Transnational Arbitration (ITA). VIAC, established in 1975, seeks to promote international commercial and investment arbitration globally.

Wolters Kluwer (WKL) reports repurchasing 165,309 of its own ordinary shares for €20.8 million at an average share price of €125.91 from November 23 to November 29, 2023. This is part of the share buyback program announced on February 22, 2023, intending to repurchase shares for up to €1 billion during 2023. The cumulative amounts repurchased to date under this year’s buyback program are 7,997,916 shares for a total consideration of €903.9 million at an average share price of €113.02. Additionally, a third party has been mandated to execute €197 million in share buybacks on behalf of the company from November 2 to December 27, 2023, within the limits of relevant laws and regulations.

Wolters Kluwer Legal and Regulatory U.S. (Wolters Kluwer) has launched Analytical APIs within MediRegs, their healthcare coding, reimbursement, and compliance solution. The service enables healthcare revenue cycle, reimbursement, and audit professionals to use automated analytics to increase efficiencies and cash collections throughout the audit and appeals processes. Customers can add several products into their eco-system, including the NCCI Code Pair Check, MS-DRG Grouper Calculator, Professional Fee Calculator, OPPS Grouper Calculator, OPPS Batch services, and more. The APIs can help hospitals reduce error rates by up to five percent.