Jackson Creek Investment Advisors LLC Makes New $1.29 Million Investment in Blackbaud, Inc. $BLKB

Jackson Creek Investment Advisors LLC bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,010 shares of the technology company’s stock, valued at approximately $1,287,000.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Blackbaud by 46.6% in the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after buying an additional 247 shares during the last quarter. CWM LLC grew its holdings in 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 last quarter. Versant Capital Management Inc increased its position in Blackbaud by 68.3% in the 3rd quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock valued at $51,000 after acquiring an additional 319 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Blackbaud by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock valued at $1,454,000 after acquiring an additional 361 shares during the last quarter. Finally, Kesler Norman & Wride LLC lifted its holdings in shares of Blackbaud by 3.2% during the second quarter. Kesler Norman & Wride LLC now owns 11,863 shares of the technology company’s stock worth $762,000 after purchasing an additional 369 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Price Performance

Blackbaud stock opened at $52.36 on Tuesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -10.07, a PEG ratio of 1.98 and a beta of 1.10. Blackbaud, Inc. has a 52-week low of $52.00 and a 52-week high of $81.39. The stock’s 50 day moving average price is $59.89 and its two-hundred day moving average price is $62.59. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69.

Insiders Place Their Bets

In other news, Director Rupal S. Hollenbeck sold 1,600 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total value of $90,384.00. Following the completion of the sale, the director directly owned 6,366 shares in the company, valued at $359,615.34. This trade represents a 20.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael P. Gianoni sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer directly owned 372,985 shares in the company, valued at approximately $21,513,774.80. This trade represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BLKB. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Stifel Nicolaus set a $70.00 price target on Blackbaud in a research note on Wednesday, October 29th. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Zacks Research cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $73.00.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.