Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,659 shares of the technology company’s stock after selling 10,322 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Blackbaud were worth $818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geneva Capital Management LLC grew its stake in shares of Blackbaud by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after purchasing an additional 4,122 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after purchasing an additional 8,761 shares during the period. Van Berkom & Associates Inc. grew its stake in shares of Blackbaud by 1.6% during the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock worth $50,076,000 after purchasing an additional 10,203 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Blackbaud by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 431,841 shares of the technology company’s stock worth $32,893,000 after purchasing an additional 45,549 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Blackbaud by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after purchasing an additional 10,555 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the transaction, the chief executive officer now owns 389,539 shares in the company, valued at approximately $32,429,121.75. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the sale, the senior vice president now directly owns 24,025 shares of the company’s stock, valued at $2,042,125. This trade represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,394 shares of company stock worth $4,373,270. Corporate insiders own 1.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLKB. Raymond James dropped their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their target price on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $80.00 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.67.

Blackbaud Trading Down 2.5 %

Shares of BLKB stock opened at $84.23 on Friday. The stock’s fifty day moving average is $83.70 and its two-hundred day moving average is $80.28. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $4.27 billion, a P/E ratio of 82.58 and a beta of 1.03. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB) last announced 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). The firm had revenue of $286.70 million during the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Research analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

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.