Becker Capital Management Inc. Has $5.19 Million Stake in Blackbaud, Inc. $BLKB

Becker Capital Management Inc. lowered its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,800 shares of the technology company’s stock after selling 12,133 shares during the period. Becker Capital Management Inc. owned about 0.17% of Blackbaud worth $5,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after acquiring an additional 313 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $33,000. Parallel Advisors LLC acquired a new position in shares of Blackbaud in the 2nd quarter worth approximately $44,000. Farther Finance Advisors LLC lifted its position in shares of Blackbaud by 2,168.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after buying an additional 1,301 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Blackbaud by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after buying an additional 231 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLKB. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $73.00.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the completion of the transaction, the chief executive officer owned 372,985 shares in the company, valued at $21,513,774.80. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rupal S. Hollenbeck sold 1,600 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $56.49, for a total value of $90,384.00. Following the completion of the transaction, the director owned 6,366 shares in the company, valued at $359,615.34. The trade was a 20.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,600 shares of company stock valued at $690,834. 1.97% of the stock is currently owned by company insiders.

Blackbaud Stock Up 1.6%

Shares of NASDAQ BLKB opened at $62.33 on Thursday. The firm’s 50-day simple moving average is $61.29 and its 200 day simple moving average is $63.48. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -11.99, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. Blackbaud, Inc. has a 12-month low of $54.56 and a 12-month high of $81.97.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. The firm had revenue of $274.76 million during the quarter. On average, research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal 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.