Blue Trust Inc. Purchases 1,047 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Blue Trust Inc. boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 190.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,597 shares of the technology company’s stock after buying an additional 1,047 shares during the quarter. Blue Trust Inc.’s holdings in Blackbaud were worth $135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Blackbaud during the 1st quarter worth about $720,000. Price T Rowe Associates Inc. MD raised its holdings in Blackbaud by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after purchasing an additional 10,555 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Blackbaud by 5.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock worth $19,633,000 after purchasing an additional 12,881 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Blackbaud by 20.0% during the 1st quarter. Clearbridge Investments LLC now owns 318,506 shares of the technology company’s stock worth $23,614,000 after purchasing an additional 53,110 shares during the last quarter. Finally, Geneva Capital Management LLC raised its holdings in Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after purchasing an additional 135,103 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

NASDAQ BLKB opened at $85.54 on Monday. The business has a 50 day simple moving average of $83.21 and a 200 day simple moving average of $79.43. 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 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 208.63 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $287.29 million during 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 business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. Analysts anticipate that Blackbaud, Inc. will post 2.45 earnings per share for the current fiscal year.

Blackbaud declared that its board has authorized a stock repurchase program on Tuesday, July 30th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 18.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLKB. Raymond James lowered their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird increased their target price on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Blackbaud has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Activity at Blackbaud

In related news, Director Sarah E. Nash sold 3,220 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total value of $245,299.60. Following the sale, the director now owns 26,823 shares in the company, valued at approximately $2,043,376.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackbaud news, SVP Jon W. Olson sold 3,603 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $77.90, for a total transaction of $280,673.70. Following the transaction, the senior vice president now owns 26,025 shares in the company, valued at $2,027,347.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sarah E. Nash sold 3,220 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total value of $245,299.60. Following the transaction, the director now owns 26,823 shares in the company, valued at $2,043,376.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,409 shares of company stock worth $4,483,193. Company insiders own 1.95% of the company’s stock.

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.