Mutual of America Capital Management LLC Has $1.83 Million Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Mutual of America Capital Management LLC lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,573 shares of the technology company’s stock after selling 1,570 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Blackbaud were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BLKB. DT Investment Partners LLC bought a new stake in Blackbaud in the second quarter valued at approximately $33,000. Quest Partners LLC raised its stake in Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. lifted its holdings in Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in Blackbaud during the second quarter worth $201,000. Finally, Heritage Family Offices LLP acquired a new position in Blackbaud in the 2nd quarter valued at about $220,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Up 1.9 %

Shares of BLKB opened at $86.98 on Monday. The firm has a 50 day simple moving average of $83.59 and a two-hundred day simple moving average of $80.12. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a one year low of $66.47 and a one year high of $88.56. The company has a market cap of $4.41 billion, a P/E ratio of 85.28 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. Research analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Blackbaud announced that its board has authorized a share repurchase plan on Tuesday, July 30th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, EVP Kevin Mcdearis sold 18,996 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the sale, the executive vice president now directly owns 67,012 shares in the company, valued at $5,561,996. This represents a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sarah E. Nash sold 3,100 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the completion of the sale, the director now owns 23,723 shares in the company, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,911 shares of company stock worth $4,686,054. Corporate insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLKB shares. Evercore ISI upgraded Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Raymond James lowered their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and a consensus target price of $86.67.

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.