Beck Bode LLC Has $7.92 Million Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Beck Bode LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,352 shares of the technology company’s stock after selling 2,841 shares during the quarter. Blackbaud makes up 1.8% of Beck Bode LLC’s holdings, making the stock its 23rd biggest holding. Beck Bode LLC owned approximately 0.17% of Blackbaud worth $7,920,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BLKB. American Century Companies Inc. boosted its stake in Blackbaud by 499.1% in the third quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after buying an additional 256,619 shares in the last quarter. Hawk Ridge Capital Management LP raised its position in 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 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 last quarter. Morgan Stanley raised its position in 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. Finally, Vanguard Group Inc. raised its position in Blackbaud by 1.3% in the third quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after purchasing an additional 70,115 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLKB has been the subject of several research reports. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird dropped their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th.

Blackbaud Trading Down 1.2 %

Shares of BLKB traded down $0.98 during mid-day trading on Tuesday, reaching $77.92. 344,706 shares of the company were exchanged, compared to its average volume of 275,987. 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 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $4.02 billion, a PE ratio of 2,597.33 and a beta of 1.04. The business has a 50 day simple moving average of $73.20 and a two-hundred day simple moving average of $76.54.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. On average, analysts predict that Blackbaud, Inc. will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the sale, the chief executive officer now owns 357,104 shares of the company’s stock, valued at $24,558,042.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the transaction, the chief executive officer now owns 357,104 shares of the company’s stock, valued at $24,558,042.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kevin P. Gregoire sold 3,000 shares of Blackbaud stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.00, for a total value of $222,000.00. Following the transaction, the chief operating officer now directly owns 133,641 shares in the company, valued at approximately $9,889,434. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,897 shares of company stock worth $4,377,015. 1.89% of the stock is owned by corporate 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.