Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by KBC Group NV

KBC Group NV lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 33.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,676 shares of the technology company’s stock after acquiring an additional 424 shares during the quarter. KBC Group NV’s holdings in Blackbaud were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BLKB. State Street Corp raised its position in shares of Blackbaud by 3.5% during the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after purchasing an additional 56,090 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud by 22.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after buying an additional 235,859 shares during the period. Geneva Capital Management LLC grew its holdings in Blackbaud by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after buying an additional 4,122 shares in the last quarter. Wellington Management Group LLP increased its position in Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after acquiring an additional 154,019 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Blackbaud by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company’s stock valued at $34,751,000 after acquiring an additional 2,934 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $78.06 on Friday. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a market cap of $3.84 billion, a PE ratio of 76.53 and a beta of 1.08. The company’s 50-day moving average price is $77.24 and its two-hundred day moving average price is $80.37.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLKB shares. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.67.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.85, for a total value of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares of the company’s stock, valued at $11,901,230.70. The trade was a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,823 shares of company stock worth $3,477,112 in the last ninety days. 1.95% of the stock is currently owned by corporate insiders.

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.