Federated Hermes Inc. Has $2.46 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Federated Hermes Inc. boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,256 shares of the technology company’s stock after buying an additional 1,224 shares during the period. Federated Hermes Inc.’s holdings in Blackbaud were worth $2,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NINE MASTS CAPITAL Ltd bought a new stake in shares of Blackbaud during the 2nd quarter valued at $2,027,000. Texas Permanent School Fund Corp increased its holdings in Blackbaud by 8.6% in the second quarter. Texas Permanent School Fund Corp now owns 39,915 shares of the technology company’s stock valued at $3,040,000 after purchasing an additional 3,152 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in Blackbaud by 1.6% in the second quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock valued at $50,076,000 after buying an additional 10,203 shares during the period. Quest Partners LLC grew its position in shares of Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Blackbaud in the 2nd quarter valued at about $290,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLKB shares. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, August 1st.

Insider Buying and Selling at Blackbaud

In other news, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the sale, the director now directly owns 26,823 shares in the company, valued at $2,043,376.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP David J. Benjamin sold 5,590 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $78.04, for a total transaction of $436,243.60. Following the completion of the transaction, the executive vice president now directly owns 51,108 shares of the company’s stock, valued at $3,988,468.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah E. Nash sold 3,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the completion of the transaction, the director now owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The disclosure for this sale can be found here. Insiders have sold 53,148 shares of company stock valued at $4,290,736 in the last 90 days. 1.95% of the stock is currently owned by company insiders.

Blackbaud Price Performance

NASDAQ BLKB opened at $85.69 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 209.00 and a beta of 1.02. The business has a 50 day simple moving average of $79.56 and a 200 day simple moving average of $77.20. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Analysts anticipate that Blackbaud, Inc. will post 2.38 earnings per share for the current fiscal year.

About Blackbaud

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.