First Trust Advisors LP Acquires 15,064 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

First Trust Advisors LP boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKBFree Report) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 298,898 shares of the technology company’s stock after acquiring an additional 15,064 shares during the period. First Trust Advisors LP owned 0.55% of Blackbaud worth $25,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BLKB. Victory Capital Management Inc. raised its stake in Blackbaud by 8.4% in the 3rd quarter. Victory Capital Management Inc. now owns 7,905 shares of the technology company’s stock valued at $556,000 after acquiring an additional 613 shares during the period. Swiss National Bank raised its stake in Blackbaud by 2.2% in the 3rd quarter. Swiss National Bank now owns 94,653 shares of the technology company’s stock valued at $6,656,000 after acquiring an additional 2,000 shares during the period. Pathstone Family Office LLC increased its position in Blackbaud by 27.9% during the 3rd quarter. Pathstone Family Office LLC now owns 7,569 shares of the technology company’s stock worth $532,000 after buying an additional 1,651 shares during the period. UBS Group AG increased its position in Blackbaud by 71.4% during the 3rd quarter. UBS Group AG now owns 37,247 shares of the technology company’s stock worth $2,619,000 after buying an additional 15,518 shares during the period. Finally, Deutsche Bank AG increased its position in Blackbaud by 12.9% during the 3rd quarter. Deutsche Bank AG now owns 23,626 shares of the technology company’s stock worth $1,661,000 after buying an additional 2,698 shares during the period. Institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BLKB shares. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird lowered their price objective on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th.

Read Our Latest Analysis on BLKB

Blackbaud Stock Performance

BLKB opened at $75.81 on Tuesday. The firm has a market cap of $3.91 billion, a P/E ratio of 184.90 and a beta of 1.03. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The business’s fifty day moving average is $77.28 and its 200-day moving average is $78.07.

Blackbaud (NASDAQ:BLKBGet Free Report) last released its earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $279.25 million for the quarter, compared to analyst estimates of $282.22 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. Sell-side analysts expect that Blackbaud, Inc. will post 2.27 EPS for the current fiscal year.

Insider Transactions at Blackbaud

In other news, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $77.50, for a total transaction of $137,020.00. Following the sale, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at approximately $4,474,772.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $79.48, for a total value of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $77.50, for a total value of $137,020.00. Following the completion of the sale, the executive vice president now directly owns 57,739 shares in the company, valued at $4,474,772.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,468 shares of company stock valued at $2,858,894. 1.95% of the stock is owned by corporate insiders.

About Blackbaud

(Free Report)

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.

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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