Charles Schwab Investment Management Inc. Purchases 2,934 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Charles Schwab Investment Management Inc. lifted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 410,375 shares of the technology company’s stock after buying an additional 2,934 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Blackbaud were worth $34,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. DT Investment Partners LLC bought a new stake in Blackbaud in the second quarter valued at $33,000. Quest Partners LLC raised its stake in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the period. Blue Trust Inc. boosted its holdings in Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Blackbaud during the third quarter valued at approximately $142,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Blackbaud during the second quarter worth approximately $201,000. Institutional investors own 94.21% of the company’s stock.

Insider Buying and Selling

In other Blackbaud news, CEO Michael P. Gianoni sold 12,325 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the completion of the transaction, the chief executive officer now owns 389,539 shares in the company, valued at $32,429,121.75. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin Mcdearis sold 3,210 shares of Blackbaud stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $85.16, for a total transaction of $273,363.60. Following the completion of the transaction, the executive vice president now owns 63,802 shares of the company’s stock, valued at $5,433,378.32. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,394 shares of company stock valued at $4,373,270. 1.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLKB. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Raymond James dropped their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Blackbaud presently has an average rating of “Hold” and a consensus price target of $86.67.

Blackbaud Trading Down 0.7 %

NASDAQ:BLKB opened at $82.67 on Wednesday. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95. The firm has a 50-day moving average price of $83.63 and a two-hundred day moving average price of $80.42. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 81.05 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period in the previous year, the business posted $0.65 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

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.