BlackRock Inc. Sells 62,141 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

BlackRock Inc. decreased its stake in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,227,254 shares of the technology company’s stock after selling 62,141 shares during the period. BlackRock Inc. owned approximately 0.10% of Blackbaud worth $230,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in shares of Blackbaud by 0.6% during the third quarter. Amalgamated Bank now owns 31,217 shares of the technology company’s stock valued at $1,375,000 after buying an additional 186 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Blackbaud by 1.8% during the 2nd quarter. State of Michigan Retirement System now owns 11,548 shares of the technology company’s stock valued at $671,000 after acquiring an additional 200 shares during the period. Bank of Hawaii increased its position in Blackbaud by 2.6% in the third quarter. Bank of Hawaii now owns 8,684 shares of the technology company’s stock worth $383,000 after buying an additional 217 shares during the last quarter. Bank of Montreal Can increased its holdings in Blackbaud by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 9,915 shares of the technology company’s stock worth $627,000 after acquiring an additional 236 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Blackbaud by 4.2% in the third quarter. Guggenheim Capital LLC now owns 6,064 shares of the technology company’s stock valued at $268,000 after purchasing an additional 243 shares during the period. Institutional investors and hedge funds own 97.39% of the company’s stock.

Insider Activity at Blackbaud

In other Blackbaud news, COO Kevin P. Gregoire sold 4,800 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $58.14, for a total value of $279,072.00. Following the completion of the sale, the chief operating officer now owns 106,310 shares in the company, valued at approximately $6,180,863.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, COO Kevin P. Gregoire sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $58.14, for a total value of $279,072.00. Following the completion of the transaction, the chief operating officer now directly owns 106,310 shares in the company, valued at approximately $6,180,863.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Mcdearis sold 12,421 shares of Blackbaud stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.51, for a total transaction of $714,331.71. Following the sale, the executive vice president now owns 77,605 shares in the company, valued at approximately $4,463,063.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,177 shares of company stock worth $1,889,129. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BLKB shares. TheStreet upgraded shares of Blackbaud from a “d+” rating to a “c-” rating in a research report on Friday, December 2nd. StockNews.com lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Finally, Robert W. Baird dropped their price objective on Blackbaud from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Wednesday, February 15th.

Blackbaud Stock Performance

BLKB opened at $53.42 on Tuesday. The company’s 50 day moving average is $59.87 and its 200 day moving average is $56.02. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -60.70, a PEG ratio of 2.77 and a beta of 1.15. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. Blackbaud, Inc. has a 12-month low of $43.54 and a 12-month high of $65.40.

Blackbaud (NASDAQ:BLKB – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $274.76 million for the quarter, compared to the consensus estimate of $278.24 million. Blackbaud had a negative net margin of 4.29% and a positive return on equity of 7.34%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts predict that Blackbaud, Inc. will post 1.92 EPS for the current year.

Blackbaud Company Profile

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.