Federated Hermes Inc. Boosts Stake in BlackLine $BL

Federated Hermes Inc. increased its stake in shares of BlackLine (NASDAQ:BL) by 228.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 134,524 shares of the technology company’s stock after acquiring an additional 93,544 shares during the quarter. Federated Hermes Inc.’s holdings in BlackLine were worth $7,143,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of BlackLine during the second quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of BlackLine in the 2nd quarter worth approximately $33,000. Versant Capital Management Inc boosted its position in shares of BlackLine by 110.4% during the 3rd quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. CWM LLC increased its holdings in BlackLine by 117.3% in the 3rd quarter. CWM LLC now owns 1,243 shares of the technology company’s stock valued at $66,000 after purchasing an additional 671 shares during the last quarter. Finally, Huntington National Bank increased its holdings in BlackLine by 57.5% in the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $70,000 after purchasing an additional 451 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

BlackLine Price Performance

Shares of NASDAQ:BL opened at $47.02 on Tuesday. BlackLine has a one year low of $40.82 and a one year high of $66.02. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 8.83 and a beta of 0.86. The company has a 50-day simple moving average of $55.53 and a 200-day simple moving average of $54.22. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.52 and a current ratio of 1.52.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a net margin of 11.07% and a return on equity of 14.51%. The business had revenue of $178.29 million for the quarter, compared to analyst estimates of $178.11 million. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. On average, analysts predict that BlackLine will post 0.9 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BL. DA Davidson upgraded BlackLine to a “hold” rating in a report on Monday, November 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of BlackLine in a research report on Tuesday, December 16th. Zacks Research raised shares of BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley lifted their price objective on shares of BlackLine from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price (down from $64.00) on shares of BlackLine in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus target price of $59.83.

BlackLine Profile

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.