Zurcher Kantonalbank Zurich Cantonalbank Purchases 277 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,192 shares of the technology company’s stock after buying an additional 277 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blackbaud were worth $797,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Operose Advisors LLC bought a new position in shares of Blackbaud during the 3rd quarter worth approximately $25,000. FSC Wealth Advisors LLC acquired a new stake in Blackbaud during the 3rd quarter valued at $40,000. Gotham Asset Management LLC lifted its holdings 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 position in Blackbaud during the third quarter worth $311,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Blackbaud in the third quarter valued at $352,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value 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 $24,558,042.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the transaction, the chief executive officer now owns 357,104 shares in the company, valued at $24,558,042.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,799 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.02, for a total transaction of $429,241.98. Following the sale, the chief executive officer now directly owns 402,060 shares of the company’s stock, valued at approximately $29,760,481.20. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock worth $4,377,015 in the last quarter. Corporate insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

BLKB has been the subject of several research analyst reports. Robert W. Baird reduced their target price on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $78.90 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 2,630.00 and a beta of 1.04. The stock’s fifty day moving average price is $73.20 and its two-hundred day moving average price is $76.54. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56.

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

Blackbaud Company 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.