Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 74.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,500 shares of the technology company’s stock after selling 41,740 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Blackbaud were worth $1,104,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in Blackbaud by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after acquiring an additional 137 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Blackbaud by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock worth $239,000 after acquiring an additional 184 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in Blackbaud by 2.1% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock valued at $850,000 after purchasing an additional 225 shares in the last quarter. Redmond Asset Management LLC raised its position in Blackbaud by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 43,172 shares of the technology company’s stock valued at $3,201,000 after purchasing an additional 399 shares in the last quarter. Finally, Quest Partners LLC raised its position in Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kevin Mcdearis sold 2,261 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the transaction, the executive vice president now owns 60,129 shares in the company, valued at $5,118,180.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Blackbaud news, EVP Kevin Mcdearis sold 2,261 shares of Blackbaud stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total value of $192,456.32. Following the transaction, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 2,000 shares of Blackbaud stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the transaction, the senior vice president now owns 24,025 shares in the company, valued at $2,042,125. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,409 shares of company stock worth $4,483,193 in the last quarter. 1.95% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Raymond James reduced their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Robert W. Baird increased their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $80.87 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The firm has a market capitalization of $4.17 billion, a PE ratio of 197.24 and a beta of 1.02. The stock’s 50-day simple moving average is $81.00 and its 200-day simple moving average is $78.22.

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

Blackbaud declared that its Board of Directors has authorized a stock 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 purchase 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.

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.