Blackbaud, Inc. (NASDAQ:BLKB) Position Boosted by Inspire Investing LLC

Inspire Investing LLC boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,445 shares of the technology company’s stock after buying an additional 566 shares during the quarter. Inspire Investing LLC’s holdings in Blackbaud were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLKB. ArrowMark Colorado Holdings LLC increased its holdings in shares of Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after acquiring an additional 235,859 shares during the last quarter. Wellington Management Group LLP increased its stake in Blackbaud by 56.0% during the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Blackbaud during the third quarter worth $5,987,000. Millennium Management LLC lifted its position in shares of Blackbaud by 2,240.8% in the 2nd quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after buying an additional 60,702 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after buying an additional 56,090 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $76.26 on Friday. The firm has a market capitalization of $3.76 billion, a PE ratio of 74.77 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a 50-day moving average price of $78.65 and a 200 day moving average price of $80.36. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 12,325 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the completion of the sale, the chief executive officer now directly owns 389,539 shares of the company’s stock, valued at $32,429,121.75. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares of the company’s stock, valued at $11,901,230.70. The trade was a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,923 shares of company stock valued at $3,737,450. Corporate insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

BLKB has been the topic of a number of recent research reports. Raymond James cut their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.67.

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.