BlackLine $BL Stake Raised by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. raised its holdings in shares of BlackLine (NASDAQ:BL) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,000 shares of the technology company’s stock after acquiring an additional 100,000 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 1.11% of BlackLine worth $36,639,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp acquired a new stake in shares of BlackLine during the second quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in BlackLine in the 2nd quarter worth approximately $33,000. Versant Capital Management Inc lifted its position in BlackLine by 110.4% in the 3rd quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Huntington National Bank boosted its stake in shares of BlackLine by 57.5% during the 2nd quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $70,000 after buying an additional 451 shares during the period. Finally, CWM LLC grew its holdings in shares of BlackLine by 117.3% during the 3rd quarter. CWM LLC now owns 1,243 shares of the technology company’s stock valued at $66,000 after acquiring an additional 671 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

BlackLine Stock Performance

BL opened at $52.65 on Monday. The company has a market cap of $3.13 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 10.00 and a beta of 0.86. The stock has a 50-day moving average of $56.31 and a 200-day moving average of $54.60. BlackLine has a 52-week low of $40.82 and a 52-week high of $66.25. 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 data on Thursday, November 6th. The technology company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $178.29 million for the quarter, compared to the consensus estimate of $178.11 million. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. As a group, equities research analysts forecast that BlackLine will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackLine

In related news, Director Thomas Unterman sold 910 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $55.00, for a total transaction of $50,050.00. Following the completion of the sale, the director directly owned 41,835 shares of the company’s stock, valued at approximately $2,300,925. This represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of BlackLine in a report on Tuesday, October 28th. Zacks Research raised BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Rosenblatt Securities started coverage on BlackLine in a report on Tuesday, December 2nd. They set a “buy” rating and a $65.00 price target for the company. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target (down previously from $64.00) on shares of BlackLine in a research note on Friday, November 7th. Finally, BMO Capital Markets cut their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.23.

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.