Blackbaud, Inc. (NASDAQ:BLKB) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 48.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,579 shares of the technology company’s stock after buying an additional 4,103 shares during the quarter. Intech Investment Management LLC’s holdings in Blackbaud were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of Blackbaud by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock valued at $912,000 after purchasing an additional 137 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Blackbaud by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after acquiring an additional 184 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in Blackbaud by 2.1% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after acquiring an additional 225 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in Blackbaud by 6.4% during the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Down 2.5 %

Shares of Blackbaud stock opened at $84.23 on Thursday. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $4.27 billion, a P/E ratio of 83.60 and a beta of 1.03. The stock’s 50 day simple moving average is $83.70 and its 200-day simple moving average is $80.26.

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 analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, COO Kevin P. Gregoire sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $84.00, for a total value of $420,000.00. Following the completion of the transaction, the chief operating officer now directly owns 105,715 shares in the company, valued at approximately $8,880,060. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction on Friday, August 30th. The shares were 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 owns 67,012 shares in the company, valued at $5,561,996. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,390 shares of company stock worth $6,369,938. Insiders own 1.95% of the company’s stock.

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.