Nisa Investment Advisors LLC cut its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB – Free Report) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,977 shares of the technology company’s stock after selling 713 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Blackbaud were worth $146,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Blackbaud by 0.6% in 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 purchasing an additional 151 shares during the period. Heritage Family Offices LLP boosted its holdings in shares of Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after buying an additional 166 shares during the period. Brookstone Capital Management increased its position in shares of Blackbaud by 3.7% in the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after acquiring an additional 275 shares in the last quarter. Inspire Investing LLC increased its position in shares of Blackbaud by 6.4% in the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock worth $413,000 after acquiring an additional 292 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on BLKB. Raymond James decreased their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and a consensus price target of $86.67.
Insider Transactions at Blackbaud
In related news, Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.98, for a total value of $260,338.00. Following the transaction, the director now directly owns 23,723 shares of the company’s stock, valued at approximately $1,992,257.54. This trade represents a 11.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kevin P. Gregoire sold 6,619 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $85.68, for a total value of $567,115.92. Following the completion of the sale, the chief operating officer now owns 99,096 shares of the company’s stock, valued at approximately $8,490,545.28. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,923 shares of company stock worth $3,737,450 in the last 90 days. 1.95% of the stock is owned by insiders.
Blackbaud Stock Performance
Shares of NASDAQ BLKB opened at $76.84 on Friday. Blackbaud, Inc. has a one year low of $66.47 and a one year high of $88.95. The business’s 50-day moving average price is $78.14 and its two-hundred day moving average price is $80.35. 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 company has a market capitalization of $3.78 billion, a P/E ratio of 75.33 and a beta of 1.08.
Blackbaud (NASDAQ:BLKB – Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. Analysts anticipate 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.
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