Blackbaud, Inc. (NASDAQ:BLKB) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,024 shares of the technology company’s stock after purchasing an additional 532 shares during the quarter. Franklin Resources Inc.’s holdings in Blackbaud were worth $1,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Blackbaud by 3.5% during the third quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after acquiring an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after purchasing an additional 235,859 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of Blackbaud by 0.4% during the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after buying an additional 4,122 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Blackbaud by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after buying an additional 8,761 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its position in Blackbaud by 1.6% during the second quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock worth $50,076,000 after acquiring an additional 10,203 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Trading Down 1.8 %

NASDAQ BLKB opened at $74.93 on Friday. The firm’s 50-day moving average is $81.60 and its two-hundred day moving average is $80.36. The stock has a market capitalization of $3.80 billion, a P/E ratio of 73.46 and a beta of 1.06. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 9,479 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the sale, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at $30,323,682.27. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the transaction, the director now directly owns 23,723 shares of the company’s stock, valued at $1,992,257.54. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,923 shares of company stock valued at $3,737,450. Corporate insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

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

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.