Federated Hermes Inc. Cuts Position in Blackbaud, Inc. (NASDAQ:BLKB)

Federated Hermes Inc. decreased its position in Blackbaud, Inc. (NASDAQ:BLKB) by 16.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 31,036 shares of the technology company’s stock after selling 5,956 shares during the period. Federated Hermes Inc.’s holdings in Blackbaud were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BLKB. Operose Advisors LLC acquired a new position in shares of Blackbaud in the 3rd quarter worth approximately $25,000. FSC Wealth Advisors LLC acquired a new position in shares of Blackbaud in the 3rd quarter worth approximately $40,000. Gotham Asset Management LLC lifted its holdings in shares of Blackbaud by 8.0% in the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock worth $299,000 after purchasing an additional 316 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Blackbaud in the 3rd quarter worth approximately $311,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Blackbaud in the 3rd quarter worth approximately $352,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the sale, the chief executive officer now owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael P. Gianoni sold 5,799 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.02, for a total value of $429,241.98. Following the sale, the chief executive officer now owns 402,060 shares of the company’s stock, valued at approximately $29,760,481.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the sale, the chief executive officer now directly owns 357,104 shares in the company, valued at approximately $24,558,042.08. The disclosure for this sale can be found here. Insiders have sold 59,897 shares of company stock valued at $4,377,015 in the last quarter. Corporate insiders own 1.89% of the company’s stock.

Blackbaud Trading Down 0.4 %

Shares of NASDAQ BLKB opened at $77.95 on Friday. The stock’s 50 day simple moving average is $73.00 and its 200 day simple moving average is $76.43. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 2,598.33 and a beta of 1.04. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $295.01 million for 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 firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts expect that Blackbaud, Inc. will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Blackbaud 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.