ProShare Advisors LLC Has $620,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

ProShare Advisors LLC reduced its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 21.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,141 shares of the technology company’s stock after selling 2,192 shares during the quarter. ProShare Advisors LLC’s holdings in Blackbaud were worth $620,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BLKB. Public Employees Retirement Association of Colorado grew its position in shares of Blackbaud by 1,371.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after buying an additional 316,992 shares during the period. Geneva Capital Management LLC grew its position in shares of Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after buying an additional 135,103 shares during the period. Wellington Management Group LLP grew its position in shares of Blackbaud by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after buying an additional 77,348 shares during the period. Vanguard Group Inc. grew its position in shares of Blackbaud by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after buying an additional 71,619 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Blackbaud by 306.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,747 shares of the technology company’s stock valued at $6,245,000 after purchasing an additional 65,395 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the transaction, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Kevin Mcdearis sold 2,261 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the sale, the executive vice president now owns 60,129 shares in the company, valued at approximately $5,118,180.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the sale, the senior vice president now owns 29,628 shares in the company, valued at approximately $2,251,728. The disclosure for this sale can be found here. Insiders sold a total of 55,409 shares of company stock valued at $4,483,193 in the last quarter. 1.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

BLKB has been the subject of several research analyst reports. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday.

Blackbaud Trading Up 0.1 %

NASDAQ:BLKB opened at $84.10 on Monday. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $80.55 and a two-hundred day moving average price of $77.75. The company has a market cap of $4.34 billion, a P/E ratio of 205.12 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same quarter in the prior year, the firm posted $0.49 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that Blackbaud, Inc. will post 2.46 EPS for the current fiscal year.

Blackbaud announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Blackbaud 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.