Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,323 shares of the technology company’s stock after selling 5,408 shares during the quarter. Ameriprise Financial Inc. owned 0.41% of Blackbaud worth $15,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Barclays PLC grew its stake in Blackbaud by 170.4% during the 3rd quarter. Barclays PLC now owns 80,557 shares of the technology company’s stock worth $6,821,000 after purchasing an additional 50,765 shares in the last quarter. Franklin Resources Inc. grew its stake in Blackbaud by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company’s stock worth $1,261,000 after purchasing an additional 532 shares in the last quarter. Brookstone Capital Management grew its stake in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares in the last quarter. Inspire Investing LLC grew its stake in Blackbaud by 11.6% during the 4th quarter. Inspire Investing LLC now owns 5,445 shares of the technology company’s stock worth $402,000 after purchasing an additional 566 shares in the last quarter. Finally, Tributary Capital Management LLC grew its stake in Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock worth $21,670,000 after purchasing an additional 3,739 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jon W. Olson sold 10,698 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the sale, the senior vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.95% of the company’s stock.

Blackbaud Stock Up 1.0%

Shares of NASDAQ BLKB opened at $64.46 on Friday. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -10.93 and a beta of 1.16. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The business has a 50-day moving average of $62.54 and a two-hundred day moving average of $71.97. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The company had revenue of $270.66 million during the quarter, compared to the consensus estimate of $268.53 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Blackbaud’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. On average, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BLKB has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Robert W. Baird decreased their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $78.67.

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.