Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,146,070 shares of the technology company’s stock after selling 11,317 shares during the period. Blackbaud accounts for about 1.3% of Geneva Capital Management LLC’s portfolio, making the stock its 25th largest holding. Geneva Capital Management LLC owned approximately 2.36% of Blackbaud worth $71,114,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. lifted its stake in Blackbaud by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock worth $733,000 after purchasing an additional 210 shares in the last quarter. Huntington National Bank raised its stake in shares of Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Blackbaud by 63.2% in the first quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock valued at $43,000 after acquiring an additional 268 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of Blackbaud by 8.0% in the first quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock valued at $231,000 after acquiring an additional 275 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Blackbaud by 127.4% in the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company’s stock valued at $32,000 after acquiring an additional 293 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of BLKB stock opened at $65.28 on Monday. The stock’s 50-day moving average is $63.81 and its two-hundred day moving average is $65.84. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -11.29, a PEG ratio of 4.64 and a beta of 1.13. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.16. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%. The firm had revenue of $281.38 million for the quarter, compared to analyst estimates of $276.48 million. During the same quarter last year, the company posted $1.08 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. Analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus cut their price target on Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Blackbaud has a consensus rating of “Hold” and an average price target of $78.67.

Insider Transactions at Blackbaud

In related news, CFO Chad Anderson sold 5,500 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.99, for a total transaction of $351,945.00. Following the transaction, the chief financial officer owned 35,976 shares of the company’s stock, valued at $2,302,104.24. This trade represents a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total value of $581,360.00. Following the transaction, the executive vice president directly owned 111,156 shares in the company, valued at approximately $8,077,706.52. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

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.