AQR Capital Management LLC Has $6.70 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

AQR Capital Management LLC decreased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 50.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 87,939 shares of the technology company’s stock after selling 88,384 shares during the period. AQR Capital Management LLC’s holdings in Blackbaud were worth $6,698,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BLKB. DT Investment Partners LLC acquired a new stake in shares of Blackbaud during the 2nd quarter valued at $33,000. Quest Partners LLC boosted its holdings 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 in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Blackbaud during the 1st quarter valued at $54,000. Parallel Advisors LLC boosted its holdings in shares of Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after acquiring an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In other news, 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 completion of the transaction, the senior vice president now directly owns 29,628 shares of the company’s stock, valued at approximately $2,251,728. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Jon W. Olson sold 2,000 shares of the business’s stock in a transaction dated 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 approximately $2,042,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were 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 directly owns 29,628 shares of the company’s stock, valued at $2,251,728. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,409 shares of company stock valued at $4,483,193. Corporate insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

BLKB has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Robert W. Baird lifted their target price on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st.

Blackbaud Stock Down 1.7 %

Shares of BLKB opened at $81.95 on Friday. The stock’s 50-day moving average price is $80.87 and its two-hundred day moving average price is $78.00. Blackbaud, Inc. has a 12 month low of $64.32 and a 12 month high of $88.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $4.23 billion, a PE ratio of 199.88 and a beta of 1.02.

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

Blackbaud announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.