Algert Global LLC Sells 15,690 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Algert Global LLC decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 74.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,447 shares of the technology company’s stock after selling 15,690 shares during the period. Algert Global LLC’s holdings in Blackbaud were worth $461,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. DT Investment Partners LLC acquired a new position in Blackbaud in the second quarter valued at approximately $33,000. Quest Partners LLC lifted its position in shares of Blackbaud by 2,950.0% during 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. boosted its stake in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Blackbaud in the third quarter worth $142,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in Blackbaud in the second quarter valued at $201,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Down 0.3 %

BLKB stock opened at $83.94 on Friday. The stock’s 50 day moving average is $83.65 and its 200-day moving average is $80.36. Blackbaud, Inc. has a twelve month low of $66.47 and a twelve month high of $88.95. The firm has a market capitalization of $4.26 billion, a PE ratio of 82.29 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BLKB. Stifel Nicolaus raised their target price on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Raymond James cut their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.67.

Insiders Place Their Bets

In related news, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the completion of the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at approximately $31,039,312.95. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,394 shares of company stock valued at $4,373,270. Corporate insiders own 1.95% of the company’s stock.

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.