Becker Capital Management Inc. Sells 12,133 Shares of Blackbaud, Inc. $BLKB

Becker Capital Management Inc. reduced its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 13.1% during the 2nd quarter, Holdings Channel reports. The firm owned 80,800 shares of the technology company’s stock after selling 12,133 shares during the period. Becker Capital Management Inc.’s holdings in Blackbaud were worth $5,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Blackbaud by 215.9% in the 2nd quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after acquiring an additional 313 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Blackbaud during the second quarter valued at approximately $33,000. Parallel Advisors LLC bought a new stake in Blackbaud in the second quarter valued at approximately $44,000. Farther Finance Advisors LLC raised its holdings in Blackbaud by 2,168.3% in the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,301 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Blackbaud by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock worth $143,000 after purchasing an additional 231 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

NASDAQ BLKB opened at $62.33 on Thursday. The firm’s 50 day moving average is $61.29 and its 200-day moving average is $63.48. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 9.63. Blackbaud, Inc. has a 12-month low of $54.56 and a 12-month high of $81.97. The company has a market capitalization of $2.98 billion, a PE ratio of -11.99, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%.The company had revenue of $274.76 million during the quarter. Equities research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLKB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Stifel Nicolaus set a $70.00 target price on Blackbaud in a research note on Wednesday, October 29th. Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Blackbaud currently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 1,600 shares of Blackbaud stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the transaction, the director owned 6,366 shares in the company, valued at approximately $359,615.34. This trade represents a 20.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Gianoni sold 5,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total value of $288,400.00. Following the completion of the sale, the chief executive officer owned 372,985 shares in the company, valued at approximately $21,513,774.80. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,600 shares of company stock worth $690,834 in the last ninety days. Insiders own 1.97% 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.