Envestnet Asset Management Inc. Acquires 16,326 Shares of Blackbaud, Inc. $BLKB

Envestnet Asset Management Inc. increased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 12.5% during the second quarter, Holdings Channel.com reports. The firm owned 147,359 shares of the technology company’s stock after acquiring an additional 16,326 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Blackbaud were worth $9,462,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Greenhouse Funds LLLP bought a new stake in shares of Blackbaud in the 1st quarter valued at about $31,217,000. Nuveen LLC purchased a new position in Blackbaud in the 1st quarter worth approximately $25,302,000. Clearline Capital LP bought a new stake in Blackbaud in the first quarter valued at approximately $19,052,000. Jane Street Group LLC boosted its stake in shares of Blackbaud by 886.2% during the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after purchasing an additional 143,533 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Blackbaud during the first quarter valued at approximately $7,858,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the transaction, the chief executive officer owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.97% of the company’s stock.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $57.36 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63. The firm has a market capitalization of $2.74 billion, a P/E ratio of -11.03, a P/E/G ratio of 4.75 and a beta of 1.08. The business has a fifty day simple moving average of $64.88 and a two-hundred day simple moving average of $64.14. Blackbaud, Inc. has a 12 month low of $56.22 and a 12 month high of $88.95.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday. Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a report on Wednesday, October 29th. Finally, Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.00.

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.