Raymond James & Associates Buys Shares of 6,478 Blackbaud, Inc. (NASDAQ:BLKB)

Raymond James & Associates bought a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,478 shares of the technology company’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Blackbaud by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after acquiring an additional 70,115 shares in the last quarter. Morgan Stanley grew its stake in shares of Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after buying an additional 72,071 shares in the last quarter. Hawk Ridge Capital Management LP grew its stake in shares of Blackbaud by 15.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after buying an additional 200,000 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Blackbaud by 11.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after buying an additional 86,952 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Blackbaud by 499.1% in the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after buying an additional 256,619 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Down 0.1 %

BLKB opened at $78.28 on Friday. The business has a 50 day moving average price of $72.83 and a 200 day moving average price of $76.33. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $4.19 billion, a P/E ratio of 2,609.33 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. During the same period in the previous year, the company earned $0.28 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts forecast that Blackbaud, Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

BLKB has been the subject of several recent research reports. Robert W. Baird lowered their price target on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. StockNews.com cut Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday, April 19th.

Insider Transactions at Blackbaud

In other news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the transaction, the chief financial officer now owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders sold a total of 59,897 shares of company stock worth $4,377,015 over the last three months. 1.89% of the stock is currently owned by insiders.

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.