Trust Point Inc. Takes Position in Blackbaud, Inc. (NASDAQ:BLKB)

Trust Point Inc. purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,410 shares of the technology company’s stock, valued at approximately $729,000.

A number of other large investors have also recently bought and sold shares of the stock. Operose Advisors LLC acquired a new stake in shares of Blackbaud during the third quarter worth about $25,000. Russell Investments Group Ltd. bought a new position in Blackbaud in the first quarter valued at approximately $35,000. FSC Wealth Advisors LLC bought a new position in Blackbaud in the third quarter valued at approximately $40,000. Point72 Middle East FZE bought a new position in Blackbaud in the fourth quarter valued at approximately $109,000. Finally, Captrust Financial Advisors grew its stake in Blackbaud by 20.1% in the first quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $134,000 after purchasing an additional 374 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BLKB shares. StockNews.com cut Blackbaud from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Robert W. Baird dropped their price objective on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

Blackbaud Trading Down 1.2 %

Shares of BLKB stock opened at $70.81 on Friday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 2,360.33, a P/E/G ratio of 3.11 and a beta of 1.04. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. The stock’s fifty day simple moving average is $73.73 and its 200 day simple moving average is $75.75.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. Blackbaud’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, sell-side analysts predict that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 5,360 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the sale, the chief executive officer now owns 413,114 shares in the company, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, CEO Michael P. Gianoni sold 5,360 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the sale, the chief executive officer now owns 413,114 shares in the company, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony W. Boor sold 429 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.00, for a total value of $31,746.00. Following the completion of the transaction, the chief financial officer now directly owns 161,368 shares in the company, valued at $11,941,232. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,897 shares of company stock worth $3,190,458. Insiders own 1.89% of the company’s stock.

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.