Federated Hermes Inc. Decreases Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Federated Hermes Inc. reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,036 shares of the technology company’s stock after selling 5,956 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Blackbaud worth $2,691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Blackbaud by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after purchasing an additional 70,115 shares during the last quarter. Morgan Stanley raised its stake in Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after purchasing an additional 72,071 shares during the last quarter. Hawk Ridge Capital Management LP raised its stake in Blackbaud by 15.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after purchasing an additional 200,000 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Blackbaud by 11.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after purchasing an additional 86,952 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Blackbaud by 499.1% in the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after purchasing an additional 256,619 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLKB shares. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird cut their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th.

Blackbaud Stock Down 0.4 %

Shares of BLKB opened at $77.95 on Friday. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The company has a market capitalization of $4.03 billion, a PE ratio of 2,598.33 and a beta of 1.04. The stock has a fifty day simple moving average of $73.00 and a two-hundred day simple moving average of $76.43. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. As a group, equities analysts forecast that Blackbaud, Inc. will post 2.35 EPS for the current year.

Insider Buying and Selling

In related news, CFO Anthony W. Boor sold 429 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now directly owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackbaud news, CEO Michael P. Gianoni sold 5,360 shares of Blackbaud stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the completion of the transaction, the chief executive officer now directly owns 413,114 shares of the company’s stock, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony W. Boor sold 429 shares of Blackbaud stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.00, for a total value of $31,746.00. Following the completion of the transaction, the chief financial officer now directly owns 161,368 shares of the company’s stock, valued at $11,941,232. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,897 shares of company stock valued at $4,377,015. 1.89% of the stock is currently owned by insiders.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.