Blackbaud, Inc. (NASDAQ:BLKB) Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 29.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,465 shares of the technology company's stock after selling 7,854 shares during the quarter. Federated Hermes Inc.'s holdings in Blackbaud were worth $1,365,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. increased its holdings in Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company's stock valued at $417,000 after purchasing an additional 130 shares in the last quarter. Heritage Family Offices LLP grew its stake in shares of Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock valued at $221,000 after buying an additional 166 shares in the last quarter. Huntington National Bank raised its holdings in shares of Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after buying an additional 227 shares during the period. Brookstone Capital Management lifted its position in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock worth $563,000 after acquiring an additional 275 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after purchasing an additional 333 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $85.33.

Blackbaud Stock Performance

Shares of NASDAQ BLKB traded up $0.64 during mid-day trading on Friday, hitting $62.02. The company had a trading volume of 244,866 shares, compared to its average volume of 234,078. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -10.51 and a beta of 1.04. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The firm's 50 day simple moving average is $65.09 and its two-hundred day simple moving average is $74.96.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.