AGF Management Ltd. Invests $3.12 Million in Blackbaud, Inc. $BLKB

AGF Management Ltd. purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 48,604 shares of the technology company’s stock, valued at approximately $3,121,000. AGF Management Ltd. owned approximately 0.10% of Blackbaud at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BLKB. Teacher Retirement System of Texas raised its holdings in Blackbaud by 21.8% in the first quarter. Teacher Retirement System of Texas now owns 5,938 shares of the technology company’s stock worth $368,000 after buying an additional 1,063 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Blackbaud by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock valued at $8,131,000 after acquiring an additional 2,582 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Blackbaud by 6.2% in the 1st quarter. New York State Common Retirement Fund now owns 299,632 shares of the technology company’s stock worth $18,592,000 after acquiring an additional 17,382 shares during the last quarter. MQS Management LLC bought a new position in Blackbaud in the 1st quarter valued at approximately $292,000. Finally, Edgestream Partners L.P. bought a new position in Blackbaud in the 1st quarter valued at approximately $689,000. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLKB shares. Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday. Stifel Nicolaus set a $70.00 target price on Blackbaud in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity at Blackbaud

In other news, CEO Michael P. Gianoni sold 5,000 shares of Blackbaud stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.68, for a total transaction of $288,400.00. Following the transaction, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at $21,513,774.80. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.97% of the stock is owned by company insiders.

Blackbaud Trading Up 0.6%

Shares of BLKB stock opened at $57.36 on Monday. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -11.03, a PEG ratio of 4.75 and a beta of 1.08. Blackbaud, Inc. has a 1 year low of $56.22 and a 1 year high of $88.95. The firm has a fifty day moving average price of $64.88 and a 200-day moving average price of $64.14.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The company had revenue of $274.76 million for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%. As a group, equities analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.