Handelsbanken Fonder AB Has $670,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Handelsbanken Fonder AB grew its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,730 shares of the technology company’s stock after purchasing an additional 1,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Blackbaud were worth $670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Blackbaud by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after acquiring an additional 70,115 shares during the period. Morgan Stanley increased its stake in shares of Blackbaud by 1.7% during the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock worth $301,014,000 after purchasing an additional 72,071 shares during the period. Hawk Ridge Capital Management LP lifted its holdings in Blackbaud by 15.6% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock worth $104,396,000 after purchasing an additional 200,000 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Blackbaud by 11.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after purchasing an additional 86,952 shares during the period. Finally, American Century Companies Inc. grew its holdings in Blackbaud by 499.1% in the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after buying an additional 256,619 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Blackbaud news, CFO Anthony W. Boor sold 429 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the transaction, the chief financial officer now directly owns 161,368 shares in the company, valued at $11,941,232. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the sale, the chief financial officer now owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders have sold 59,897 shares of company stock worth $4,377,015 over the last ninety days. Corporate insiders own 1.89% of the company’s stock.

Blackbaud Price Performance

Blackbaud stock opened at $78.90 on Tuesday. The firm has a market cap of $4.07 billion, a PE ratio of 2,630.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $73.20 and its two-hundred day moving average price is $76.54. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. Blackbaud’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, research analysts expect that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BLKB. Robert W. Baird dropped their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday.

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.