Handelsbanken Fonder AB Buys 1,800 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Handelsbanken Fonder AB boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 30.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,730 shares of the technology company’s stock after purchasing an additional 1,800 shares during the period. Handelsbanken Fonder AB’s holdings in Blackbaud were worth $670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLKB. Operose Advisors LLC bought a new stake in Blackbaud in the third quarter worth $25,000. FSC Wealth Advisors LLC bought a new position in Blackbaud in the 3rd quarter worth about $40,000. Gotham Asset Management LLC grew its position in Blackbaud by 8.0% during the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock valued at $299,000 after purchasing an additional 316 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Blackbaud during the 3rd quarter valued at about $311,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Blackbaud in the third quarter worth about $352,000. Institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird reduced their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

Blackbaud Stock Up 1.2 %

BLKB opened at $78.90 on Tuesday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 2,630.00 and a beta of 1.04. The firm has a 50 day moving average price of $73.20 and a 200-day moving average price of $76.54. 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.

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

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the completion of the sale, the chief financial officer now owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Kevin P. Gregoire sold 3,000 shares of Blackbaud stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the transaction, the chief operating officer now owns 133,641 shares in the company, valued at approximately $9,889,434. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total value of $246,388.00. Following the completion of the sale, the chief financial officer now owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,897 shares of company stock valued at $4,377,015. 1.89% of the stock is owned by company insiders.

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.