Raymond James & Associates Makes New Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Raymond James & Associates purchased a new position 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 purchased 6,478 shares of the technology company’s stock, valued at approximately $562,000.

Other institutional investors have also made changes to their positions in the company. Operose Advisors LLC acquired a new position in shares of Blackbaud during the 3rd quarter worth approximately $25,000. FSC Wealth Advisors LLC acquired a new position in shares of Blackbaud during the 3rd quarter worth approximately $40,000. Gotham Asset Management LLC increased its holdings in shares of Blackbaud by 8.0% during the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock worth $299,000 after acquiring an additional 316 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Blackbaud during the 3rd quarter worth approximately $311,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Blackbaud during the 3rd quarter worth approximately $352,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Performance

BLKB opened at $78.28 on Friday. The business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $76.33. The company has a market capitalization of $4.19 billion, a PE ratio of 2,609.33 and a beta of 1.04. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78.

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

Insider Activity

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

Wall Street Analyst Weigh In

BLKB has been the topic of a number of recent analyst reports. StockNews.com lowered Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Robert W. Baird reduced 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.

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.