Dimensional Fund Advisors LP Acquires 8,761 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Dimensional Fund Advisors LP grew its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,036,467 shares of the technology company’s stock after purchasing an additional 8,761 shares during the period. Dimensional Fund Advisors LP owned about 2.01% of Blackbaud worth $78,949,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BLKB. DT Investment Partners LLC acquired a new position in Blackbaud in the second quarter valued at about $33,000. Quest Partners LLC grew its stake in Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Blackbaud in the 1st quarter valued at about $54,000. Parallel Advisors LLC raised its position in shares of Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after buying an additional 552 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after acquiring an additional 2,078 shares during the period. 94.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BLKB shares. Stifel Nicolaus lifted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday. Robert W. Baird raised their target price on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st.

Blackbaud Trading Up 0.3 %

BLKB opened at $83.99 on Friday. The company has a market cap of $4.34 billion, a P/E ratio of 204.85 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average is $80.41 and its 200-day moving average is $77.66. Blackbaud, Inc. has a 1-year low of $64.32 and a 1-year high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Equities research analysts predict that Blackbaud, Inc. will post 2.46 earnings per share for the current fiscal year.

Blackbaud announced that its board has approved a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 18.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Blackbaud

In related news, EVP Kevin Mcdearis sold 18,996 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the sale, the executive vice president now owns 67,012 shares in the company, valued at approximately $5,561,996. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Kevin Mcdearis sold 18,996 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the transaction, the executive vice president now owns 67,012 shares in the company, valued at approximately $5,561,996. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jon W. Olson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the senior vice president now directly owns 24,025 shares in the company, valued at $2,042,125. The disclosure for this sale can be found here. Insiders have sold a total of 55,409 shares of company stock valued at $4,483,193 in the last 90 days. 1.95% of the stock is owned by corporate insiders.

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.