Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its position in Blackbaud, Inc. (NASDAQ:BLKB) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,242 shares of the technology company’s stock after selling 585 shares during the quarter. Gotham Asset Management LLC’s holdings in Blackbaud were worth $609,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vestcor Inc purchased a new stake in Blackbaud in the fourth quarter valued at approximately $75,000. KBC Group NV raised its position in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares during the last quarter. Huntington National Bank boosted its stake in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares during the period. Blue Trust Inc. boosted its stake in Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after purchasing an additional 333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Blackbaud by 31.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company’s stock worth $154,000 after purchasing an additional 499 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLKB has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Robert W. Baird reduced their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.67.

Blackbaud Stock Up 1.0%

Shares of Blackbaud stock opened at $64.46 on Monday. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The company has a market cap of $3.13 billion, a P/E ratio of -10.93 and a beta of 1.16. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a fifty day moving average of $62.54 and a two-hundred day moving average of $71.94.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. On average, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jon W. Olson sold 10,698 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the sale, the senior vice president now directly owns 23,799 shares of the company’s stock, valued at $1,455,308.85. This trade represents a 31.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.95% of the stock is currently owned by insiders.

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.