Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,956 shares of the technology company’s stock after selling 761 shares during the quarter. Shell Asset Management Co.’s holdings in Blackbaud were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strs Ohio purchased a new stake in Blackbaud in the fourth quarter valued at approximately $64,000. Captrust Financial Advisors grew its stake in shares of Blackbaud by 20.1% during the 1st quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $134,000 after buying an additional 374 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of Blackbaud by 400.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,000 shares of the technology company’s stock worth $180,000 after buying an additional 2,401 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Blackbaud during the 4th quarter worth $219,000. Finally, Verition Fund Management LLC purchased a new position in shares of Blackbaud in the 1st quarter worth $225,000. Institutional investors and hedge funds own 97.39% of the company’s stock.

Insider Activity

In other news, EVP Kevin Mcdearis sold 12,421 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $57.51, for a total transaction of $714,331.71. Following the transaction, the executive vice president now directly owns 77,605 shares of the company’s stock, valued at $4,463,063.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Blackbaud news, CEO Michael P. Gianoni sold 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $55.72, for a total transaction of $172,732.00. Following the completion of the sale, the chief executive officer now owns 380,258 shares in the company, valued at approximately $21,187,975.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kevin Mcdearis sold 12,421 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.51, for a total value of $714,331.71. Following the completion of the transaction, the executive vice president now directly owns 77,605 shares in the company, valued at $4,463,063.55. The disclosure for this sale can be found here. Insiders have sold 54,561 shares of company stock worth $3,168,442 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Blackbaud Stock Down 0.6 %

Shares of Blackbaud stock opened at $69.69 on Wednesday. Blackbaud, Inc. has a twelve month low of $43.54 and a twelve month high of $71.37. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -72.59, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average price of $63.73 and a 200 day moving average price of $60.56.

Blackbaud (NASDAQ:BLKB – Get Rating) last issued its earnings results on Tuesday, February 14th. The technology company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $274.76 million during the quarter, compared to the consensus estimate of $278.24 million. Blackbaud had a positive return on equity of 8.29% and a negative net margin of 4.68%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities research analysts forecast that Blackbaud, Inc. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BLKB shares. Robert W. Baird raised Blackbaud from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $84.00 in a research report on Thursday, May 4th. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Thursday, May 4th.

About Blackbaud

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.