Blackbaud, Inc. (NASDAQ:BLKB) Stake Lowered by American International Group Inc.

American International Group Inc. decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 79,504 shares of the technology company’s stock after selling 2,585 shares during the period. American International Group Inc.’s holdings in Blackbaud were worth $6,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Blackbaud by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after purchasing an additional 70,115 shares during the last quarter. Morgan Stanley raised its holdings in Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock worth $301,014,000 after acquiring an additional 72,071 shares during the period. Hawk Ridge Capital Management LP raised its holdings in Blackbaud by 15.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock worth $104,396,000 after acquiring an additional 200,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in Blackbaud by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock worth $89,145,000 after acquiring an additional 24,910 shares during the period. Finally, Norges Bank bought a new position in Blackbaud in the 4th quarter worth $43,589,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $75.72 on Friday. The company has a market capitalization of $3.91 billion, a PE ratio of 184.69 and a beta of 1.03. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $77.91 and its 200 day moving average price is $78.11.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. The company had revenue of $279.25 million for the quarter, compared to the consensus estimate of $282.22 million. As a group, analysts expect that Blackbaud, Inc. will post 2.27 earnings per share for the current year.

Insider Transactions at Blackbaud

In other news, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.63, for a total transaction of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares in the company, valued at approximately $2,644,169.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Anthony W. Boor sold 3,100 shares of Blackbaud stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares in the company, valued at approximately $12,579,140.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jon W. Olson sold 3,000 shares of Blackbaud stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.63, for a total transaction of $235,890.00. Following the sale, the senior vice president now owns 33,628 shares in the company, valued at $2,644,169.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,468 shares of company stock worth $2,858,894. 1.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th.

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.