Blackbaud, Inc. (NASDAQ:BLKB) Stock Position Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Blackbaud, Inc. (NASDAQ:BLKB) by 17.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,930 shares of the technology company’s stock after selling 803 shares during the period. Hsbc Holdings PLC’s holdings in Blackbaud were worth $301,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new stake in shares of Blackbaud during the 2nd quarter valued at about $33,000. Quest Partners LLC increased 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 during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Blackbaud in the first quarter worth $54,000. Parallel Advisors LLC increased its stake in shares of Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after purchasing an additional 552 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in Blackbaud by 447.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after purchasing an additional 2,078 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total value of $192,456.32. Following the completion of the sale, the executive vice president now owns 60,129 shares in the company, valued at $5,118,180.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the sale, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction that occurred on 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 owns 29,628 shares of the company’s stock, valued at approximately $2,251,728. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,409 shares of company stock worth $4,483,193. Corporate insiders own 1.95% of the company’s stock.

Analysts Set New Price Targets

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

Blackbaud Stock Performance

Shares of BLKB stock opened at $81.95 on Friday. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The stock has a market cap of $4.23 billion, a PE ratio of 199.88 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50-day moving average of $80.87 and a 200-day moving average of $78.00.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $287.29 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. As a group, sell-side analysts expect that Blackbaud, Inc. will post 2.46 earnings per share for the current year.

Blackbaud announced that its board has initiated a stock buyback program on Tuesday, July 30th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 18.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

About Blackbaud

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.