Tributary Capital Management LLC Has $17.05 Million Stock Holdings in Blackbaud, Inc. $BLKB

Tributary Capital Management LLC lessened its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 265,491 shares of the technology company’s stock after selling 18,580 shares during the quarter. Tributary Capital Management LLC’s holdings in Blackbaud were worth $17,047,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Blackbaud by 215.9% during the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after buying an additional 313 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Blackbaud during the 2nd quarter valued at approximately $44,000. Farther Finance Advisors LLC grew its holdings in shares of Blackbaud by 2,168.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock valued at $87,000 after purchasing an additional 1,301 shares during the last quarter. KBC Group NV grew its holdings in shares of Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company’s stock valued at $137,000 after purchasing an additional 533 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Down 1.2%

Shares of NASDAQ BLKB opened at $64.48 on Thursday. The company has a market capitalization of $3.13 billion, a P/E ratio of -11.16, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50 day moving average price is $65.36 and its 200-day moving average price is $63.91.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. Equities analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kevin P. Gregoire sold 8,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares in the company, valued at $8,077,706.52. The trade was a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the transaction, the director owned 7,966 shares in the company, valued at $509,664.68. The trade was a 23.89% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, October 8th. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $70.50.

About Blackbaud

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.