Blackbaud, Inc. (NASDAQ:BLKB) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 131,033 shares of the technology company’s stock after purchasing an additional 2,582 shares during the period. Envestnet Asset Management Inc. owned 0.27% of Blackbaud worth $8,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Blackbaud during the 4th quarter valued at about $6,546,000. Swiss National Bank grew its position in shares of Blackbaud by 0.6% during the 4th quarter. Swiss National Bank now owns 81,153 shares of the technology company’s stock valued at $5,999,000 after buying an additional 500 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Blackbaud during the 4th quarter valued at about $280,000. Xponance Inc. grew its position in shares of Blackbaud by 2.4% during the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after buying an additional 130 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Blackbaud during the 4th quarter valued at about $243,000. Institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased their price objective on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $78.67.

Insider Buying and Selling

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the sale, the chief financial officer owned 35,976 shares of the company’s stock, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total transaction of $654,182.70. Following the completion of the sale, the senior vice president directly owned 23,799 shares of the company’s stock, valued at $1,455,308.85. The trade was a 31.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.

Blackbaud Stock Performance

NASDAQ BLKB opened at $64.18 on Tuesday. The company has a debt-to-equity ratio of 35.64, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.88, a P/E/G ratio of 4.77 and a beta of 1.14. The company’s fifty day moving average is $63.28 and its two-hundred day moving average is $66.51. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 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 negative net margin of 25.05% and a positive return on equity of 38.58%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS 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.