Xponance Inc. Trims Position in Blackbaud, Inc. (NASDAQ:BLKB)

Xponance Inc. reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 10.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,500 shares of the technology company’s stock after selling 634 shares during the period. Xponance Inc.’s holdings in Blackbaud were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BLKB. SG Americas Securities LLC purchased a new stake in shares of Blackbaud in the first quarter valued at $720,000. Price T Rowe Associates Inc. MD grew its holdings in Blackbaud by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after buying an additional 10,555 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Blackbaud by 5.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock valued at $19,633,000 after buying an additional 12,881 shares during the period. Clearbridge Investments LLC increased its stake in shares of Blackbaud by 20.0% during the 1st quarter. Clearbridge Investments LLC now owns 318,506 shares of the technology company’s stock valued at $23,614,000 after acquiring an additional 53,110 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Blackbaud by 5.3% during the 4th quarter. First Trust Advisors LP now owns 298,898 shares of the technology company’s stock worth $25,914,000 after acquiring an additional 15,064 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares of the company’s stock, valued at $2,251,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Sarah E. Nash sold 3,220 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $76.18, for a total transaction of $245,299.60. Following the completion of the sale, the director now directly owns 26,823 shares in the company, valued at $2,043,376.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the sale, the senior vice president now directly owns 29,628 shares in the company, valued at $2,251,728. The disclosure for this sale can be found here. Insiders have sold 55,409 shares of company stock valued at $4,483,193 over the last three months. 1.95% of the stock is owned by company insiders.

Blackbaud Stock Up 0.7 %

Shares of NASDAQ:BLKB opened at $84.68 on Tuesday. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The stock has a 50-day simple moving average of $80.68 and a 200-day simple moving average of $77.83. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $4.37 billion, a P/E ratio of 206.54 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities analysts forecast that Blackbaud, Inc. will post 2.46 earnings per share for the current year.

Blackbaud declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 30th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Robert W. Baird boosted their price objective on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st.

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.