Allspring Global Investments Holdings LLC Boosts Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Allspring Global Investments Holdings LLC increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 265,920 shares of the technology company’s stock after buying an additional 1,104 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.52% of Blackbaud worth $20,255,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in shares of Blackbaud in the second quarter valued at approximately $33,000. YHB Investment Advisors Inc. acquired a new stake in Blackbaud during the 1st quarter worth $54,000. Parallel Advisors LLC grew its position in Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after purchasing an additional 552 shares during the last quarter. GAMMA Investing LLC acquired a new position in Blackbaud in the fourth quarter valued at $64,000. Finally, AXS Investments LLC purchased a new stake in shares of Blackbaud in the fourth quarter valued at about $181,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling

In other Blackbaud news, COO Kevin P. Gregoire sold 7,333 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $77.65, for a total value of $569,407.45. Following the completion of the sale, the chief operating officer now owns 110,715 shares of the company’s stock, valued at $8,597,019.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the sale, the senior vice president now owns 29,628 shares in the company, valued at approximately $2,251,728. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Kevin P. Gregoire sold 7,333 shares of Blackbaud stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $77.65, for a total value of $569,407.45. Following the transaction, the chief operating officer now directly owns 110,715 shares of the company’s stock, valued at $8,597,019.75. The disclosure for this sale can be found here. Insiders have sold 23,942 shares of company stock valued at $1,850,705 over the last quarter. Company insiders own 1.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Evercore ISI upgraded Blackbaud to a “hold” rating in a research note on Thursday, August 1st.

Blackbaud Stock Down 0.5 %

Shares of NASDAQ:BLKB opened at $81.92 on Thursday. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The firm’s 50-day simple moving average is $77.38 and its 200-day simple moving average is $75.86. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 199.80 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The company had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same quarter in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Blackbaud, Inc. will post 2.27 earnings per share for the current year.

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.