Victory Capital Management Inc. Purchases 1,073 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Victory Capital Management Inc. increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,978 shares of the technology company’s stock after buying an additional 1,073 shares during the period. Victory Capital Management Inc.’s holdings in Blackbaud were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Blackbaud by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock worth $390,336,000 after acquiring an additional 70,115 shares during the period. Morgan Stanley increased its holdings in shares of Blackbaud by 1.7% in the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after purchasing an additional 72,071 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of Blackbaud by 15.6% in the third quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after purchasing an additional 200,000 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of Blackbaud by 11.8% in the third quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after purchasing an additional 86,952 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Blackbaud by 499.1% during the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock worth $21,661,000 after buying an additional 256,619 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BLKB. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird lowered their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

Blackbaud Price Performance

NASDAQ:BLKB opened at $79.64 on Thursday. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50-day simple moving average is $75.71 and its 200 day simple moving average is $77.65. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 194.24 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $279.25 million for the quarter, compared to analysts’ expectations of $282.22 million. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. As a group, sell-side analysts predict that Blackbaud, Inc. will post 2.3 earnings per share for the current year.

Insider Activity

In related news, SVP Jon W. Olson sold 3,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.63, for a total value of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares in the company, valued at $2,644,169.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackbaud news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the sale, the chief financial officer now owns 151,368 shares of the company’s stock, valued at approximately $11,959,585.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.63, for a total value of $235,890.00. Following the transaction, the senior vice president now directly owns 33,628 shares of the company’s stock, valued at approximately $2,644,169.64. The disclosure for this sale can be found here. In the last three months, insiders sold 37,543 shares of company stock worth $2,869,310. 1.95% of the stock is currently owned by company insiders.

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.