Mutual of America Capital Management LLC Sells 1,887 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Mutual of America Capital Management LLC decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,143 shares of the technology company’s stock after selling 1,887 shares during the period. Mutual of America Capital Management LLC’s holdings in Blackbaud were worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BLKB. Vanguard Group Inc. raised its stake in Blackbaud by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after acquiring an additional 71,619 shares during the period. Janus Henderson Group PLC raised its position in shares of Blackbaud by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after purchasing an additional 53,057 shares during the period. Geneva Capital Management LLC lifted its stake in shares of Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after buying an additional 135,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after buying an additional 8,761 shares during the period. Finally, Van Berkom & Associates Inc. grew its stake in Blackbaud by 1.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock valued at $50,076,000 after buying an additional 10,203 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI upgraded Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $83.70 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 204.15 and a beta of 1.02. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a 50-day simple moving average of $80.27 and a two-hundred day simple moving average of $77.62.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results 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 net margin of 3.64% and a return on equity of 18.54%. The company had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that Blackbaud, Inc. will post 2.46 EPS for the current year.

Blackbaud announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares of the company’s stock, valued at $2,251,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,628 shares in the company, valued at $2,251,728. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Mcdearis sold 2,261 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total value of $192,456.32. Following the completion of the sale, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,409 shares of company stock worth $4,483,193. Company insiders own 1.95% of the company’s stock.

About Blackbaud

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.