Inspire Investing LLC Increases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Inspire Investing LLC grew its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,879 shares of the technology company’s stock after buying an additional 292 shares during the quarter. Inspire Investing LLC’s holdings in Blackbaud were worth $413,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneva Capital Management LLC grew its stake in Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after buying an additional 135,103 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Blackbaud by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after acquiring an additional 77,348 shares during the period. Vanguard Group Inc. grew its position in shares of Blackbaud by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after acquiring an additional 71,619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Blackbaud by 306.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,747 shares of the technology company’s stock valued at $6,245,000 after acquiring an additional 65,395 shares during the period. Finally, Tributary Capital Management LLC raised its position in Blackbaud by 28.9% in the 1st quarter. Tributary Capital Management LLC now owns 289,989 shares of the technology company’s stock valued at $21,500,000 after purchasing an additional 64,960 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other news, EVP Kevin Mcdearis sold 2,261 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 60,129 shares in the company, valued at $5,118,180.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the transaction, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jon W. Olson sold 2,000 shares of Blackbaud stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,409 shares of company stock valued at $4,483,193. 1.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BLKB. Stifel Nicolaus raised their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Raymond James lowered their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Blackbaud Trading Up 1.6 %

NASDAQ BLKB opened at $86.60 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $4.47 billion, a P/E ratio of 211.22 and a beta of 1.02. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The firm has a 50-day moving average price of $81.87 and a 200 day moving average price of $78.78.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating 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 business had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. During the same period last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Blackbaud, Inc. will post 2.45 EPS for the current year.

Blackbaud announced that its board has authorized a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $800.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are 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.