SG Americas Securities LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,041 shares of the technology company’s stock after selling 7,360 shares during the period. SG Americas Securities LLC’s holdings in Blackbaud were worth $661,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Geneva Capital Management LLC raised its position in Blackbaud by 25.4% during the fourth quarter. Geneva Capital Management LLC now owns 688,751 shares of the technology company’s stock valued at $54,398,000 after purchasing an additional 139,372 shares during the period. American Capital Management Inc. raised its holdings in Blackbaud by 42.9% during the 4th quarter. American Capital Management Inc. now owns 598,182 shares of the technology company’s stock valued at $47,244,000 after buying an additional 179,513 shares during the period. Palisade Capital Management LLC NJ lifted its position in Blackbaud by 1.0% in the fourth quarter. Palisade Capital Management LLC NJ now owns 409,938 shares of the technology company’s stock worth $32,377,000 after buying an additional 3,946 shares during the last quarter. Becker Capital Management Inc. boosted its stake in Blackbaud by 35.8% during the fourth quarter. Becker Capital Management Inc. now owns 338,575 shares of the technology company’s stock worth $26,741,000 after buying an additional 89,340 shares during the period. Finally, Trillium Asset Management LLC increased its position in Blackbaud by 7.4% during the fourth quarter. Trillium Asset Management LLC now owns 285,135 shares of the technology company’s stock valued at $22,520,000 after acquiring an additional 19,590 shares during the last quarter. 95.57% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Blackbaud news, Director Andrew M. Leitch sold 5,000 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $62.93, for a total value of $314,650.00. Following the transaction, the director now owns 26,132 shares of the company’s stock, valued at approximately $1,644,486.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Andrew M. Leitch sold 5,000 shares of Blackbaud stock in a transaction on Friday, May 20th. The stock was sold at an average price of $62.93, for a total transaction of $314,650.00. Following the completion of the sale, the director now directly owns 26,132 shares in the company, valued at $1,644,486.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin W. Mooney sold 3,394 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $65.00, for a total transaction of $220,610.00. Following the completion of the transaction, the executive vice president now owns 85,777 shares in the company, valued at $5,575,505. The disclosure for this sale can be found here. In the last three months, insiders sold 18,788 shares of company stock valued at $1,123,686. Insiders own 1.70% of the company’s stock.
Blackbaud Price Performance
Blackbaud (NASDAQ:BLKB – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $257.12 million during the quarter, compared to the consensus estimate of $253.10 million. Blackbaud had a positive return on equity of 8.94% and a negative net margin of 0.47%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities research analysts forecast that Blackbaud, Inc. will post 0.78 EPS for the current year.
Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.
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