Parallel Advisors LLC Increases Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Parallel Advisors LLC boosted its stake in Blackbaud, Inc. (NASDAQ:BLKBFree Report) by 303.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 734 shares of the technology company’s stock after acquiring an additional 552 shares during the quarter. Parallel Advisors LLC’s holdings in Blackbaud were worth $64,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its stake in shares of Blackbaud by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock worth $4,678,000 after purchasing an additional 163 shares in the last quarter. Franklin Resources Inc. increased its stake in Blackbaud by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock worth $1,113,000 after buying an additional 183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Blackbaud by 3.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock valued at $797,000 after acquiring an additional 277 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of Blackbaud by 8.0% in the third quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock valued at $299,000 after acquiring an additional 316 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Blackbaud in the third quarter worth approximately $25,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In related news, CFO Anthony W. Boor sold 429 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $74.00, for a total value of $31,746.00. Following the completion of the transaction, the chief financial officer now directly owns 161,368 shares in the company, valued at $11,941,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Anthony W. Boor sold 429 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now directly owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,799 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.02, for a total transaction of $429,241.98. Following the completion of the transaction, the chief executive officer now directly owns 402,060 shares in the company, valued at approximately $29,760,481.20. The disclosure for this sale can be found here. Insiders sold 42,696 shares of company stock worth $3,319,882 in the last 90 days. Insiders own 1.95% of the company’s stock.

Analysts Set New Price Targets

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

View Our Latest Analysis on BLKB

Blackbaud Price Performance

BLKB stock opened at $78.74 on Friday. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The firm has a market capitalization of $4.07 billion, a PE ratio of 192.05 and a beta of 1.03. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $77.20 and a 200-day simple moving average of $78.02.

Blackbaud (NASDAQ:BLKBGet Free Report) last issued its earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The company had revenue of $279.25 million during the quarter, compared to analysts’ expectations of $282.22 million. Equities research analysts anticipate that Blackbaud, Inc. will post 2.27 earnings per share for the current fiscal year.

About Blackbaud

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKBFree Report).

Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.