Nordea Investment Management AB Trims Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Nordea Investment Management AB reduced its stake in Blackbaud, Inc. (NASDAQ:BLKBFree Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,586 shares of the technology company’s stock after selling 670 shares during the period. Nordea Investment Management AB owned approximately 0.15% of Blackbaud worth $5,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Vanguard Group Inc. increased its stake in Blackbaud by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock worth $483,316,000 after purchasing an additional 23,727 shares during the period. Morgan Stanley raised its holdings in Blackbaud by 1.7% in the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after acquiring an additional 72,071 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Blackbaud by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after acquiring an additional 24,910 shares in the last quarter. Norges Bank acquired a new stake in Blackbaud in the fourth quarter valued at approximately $43,589,000. Finally, Wellington Management Group LLP increased its stake in Blackbaud by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after purchasing an additional 77,348 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

Check Out Our Latest Stock Analysis on Blackbaud

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $75.00 on Tuesday. The firm has a market capitalization of $3.87 billion, a P/E ratio of 183.13 and a beta of 1.01. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.91. The firm’s 50 day moving average is $77.41 and its two-hundred day moving average is $77.24.

Blackbaud (NASDAQ:BLKBGet Free Report) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $279.25 million for the quarter, compared to analyst estimates of $282.22 million. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. Research analysts forecast 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 firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the transaction, the executive vice president now directly owns 57,739 shares in the company, valued at $4,474,772.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 completion of the sale, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kevin P. Gregoire sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the completion of the sale, the chief operating officer now directly owns 128,641 shares of the company’s stock, valued at approximately $10,162,639. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,468 shares of company stock worth $2,858,894. Insiders own 1.95% of the company’s stock.

Blackbaud Company Profile

(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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