Intech Investment Management LLC Trims Holdings in Blackbaud, Inc. $BLKB

Intech Investment Management LLC decreased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 23.2% in the second quarter, HoldingsChannel reports. The firm owned 33,597 shares of the technology company’s stock after selling 10,136 shares during the quarter. Intech Investment Management LLC’s holdings in Blackbaud were worth $2,157,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC raised its position in Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after buying an additional 313 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Blackbaud in the 2nd quarter valued at $33,000. Parallel Advisors LLC purchased a new stake in shares of Blackbaud in the 2nd quarter valued at $44,000. Farther Finance Advisors LLC increased its stake in shares of Blackbaud by 2,168.3% in the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after acquiring an additional 1,301 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Blackbaud by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock worth $143,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Price Performance

NASDAQ:BLKB opened at $56.16 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. Blackbaud, Inc. has a 52 week low of $56.09 and a 52 week high of $88.95. The stock’s 50-day moving average price is $63.29 and its 200-day moving average price is $63.87. The stock has a market capitalization of $2.69 billion, a PE ratio of -10.80, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. The company had revenue of $274.76 million during the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%. As a group, equities analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BLKB. Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Stifel Nicolaus set a $70.00 price objective on Blackbaud in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.00.

Insider Buying and Selling at Blackbaud

In other news, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total transaction of $288,400.00. Following the transaction, the chief executive officer owned 372,985 shares in the company, valued at $21,513,774.80. This trade represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.97% of the stock is currently owned by insiders.

Blackbaud Company 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.