Janney Montgomery Scott LLC Increases Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Janney Montgomery Scott LLC boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,089 shares of the technology company’s stock after buying an additional 393 shares during the period. Janney Montgomery Scott LLC’s holdings in Blackbaud were worth $576,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BLKB. Louisiana State Employees Retirement System bought a new stake in shares of Blackbaud during the third quarter valued at approximately $520,000. Pacer Advisors Inc. purchased a new stake in shares of Blackbaud in the 3rd quarter worth about $90,000. Brookstone Capital Management increased its stake in shares of Blackbaud by 4.2% in the 3rd quarter. Brookstone Capital Management now owns 7,449 shares of the technology company’s stock worth $382,000 after acquiring an additional 298 shares in the last quarter. Tributary Capital Management LLC lifted its position in Blackbaud by 16.3% during the 3rd quarter. Tributary Capital Management LLC now owns 361,561 shares of the technology company’s stock valued at $15,930,000 after acquiring an additional 50,720 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Blackbaud by 26.8% during the second quarter. Federated Hermes Inc. now owns 304,027 shares of the technology company’s stock worth $17,656,000 after acquiring an additional 64,273 shares in the last quarter. 97.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackbaud

In related news, COO Kevin P. Gregoire sold 1,023 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $58.78, for a total transaction of $60,131.94. Following the completion of the sale, the chief operating officer now owns 97,358 shares in the company, valued at $5,722,703.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Blackbaud Price Performance

Shares of BLKB opened at $61.01 on Friday. The company has a market capitalization of $3.24 billion, a P/E ratio of -98.40, a price-to-earnings-growth ratio of 9.44 and a beta of 1.09. Blackbaud, Inc. has a twelve month low of $43.54 and a twelve month high of $71.57. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average of $58.93 and a 200 day moving average of $55.55.

Blackbaud (NASDAQ:BLKB – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. Blackbaud had a positive return on equity of 6.95% and a negative net margin of 3.03%. The firm had revenue of $261.30 million for the quarter, compared to the consensus estimate of $261.38 million. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLKB has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Blackbaud in a report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet raised Blackbaud from a “d+” rating to a “c-” rating in a report on Friday, December 2nd.

About Blackbaud

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Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.