First Trust Advisors LP Buys 12,953 Shares of Blackbaud, Inc. $BLKB

First Trust Advisors LP boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,872 shares of the technology company’s stock after buying an additional 12,953 shares during the period. First Trust Advisors LP’s holdings in Blackbaud were worth $27,024,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Blackbaud by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,173 shares of the technology company’s stock valued at $27,685,000 after acquiring an additional 33,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Blackbaud by 11.2% in the 1st 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. Invesco Ltd. grew its position in Blackbaud by 26.4% in the 1st quarter. Invesco Ltd. now owns 90,134 shares of the technology company’s stock valued at $5,593,000 after purchasing an additional 18,846 shares during the period. Aigen Investment Management LP bought a new stake in Blackbaud during the 1st quarter valued at $316,000. Finally, Nuveen LLC bought a new stake in Blackbaud during the 1st quarter valued at $25,302,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Blackbaud Trading Up 1.6%

Shares of BLKB stock opened at $62.33 on Thursday. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -11.99, a PEG ratio of 2.68 and a beta of 1.09. Blackbaud, Inc. has a 52-week low of $54.56 and a 52-week high of $81.97. The company has a 50-day simple moving average of $61.29 and a two-hundred day simple moving average of $63.48.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. The firm had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. Research analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 1,600 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $56.49, for a total value of $90,384.00. Following the transaction, the director owned 6,366 shares of the company’s stock, valued at approximately $359,615.34. The trade was a 20.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Gianoni sold 5,000 shares of the firm’s 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 sale, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at approximately $21,513,774.80. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,600 shares of company stock worth $690,834. 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.