Jackson Creek Investment Advisors LLC Purchases New Stake in Blackbaud, Inc. $BLKB

Jackson Creek Investment Advisors LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,010 shares of the technology company’s stock, valued at approximately $1,287,000.

A number of other large investors have also recently made changes to their positions in BLKB. CWM LLC increased its position in shares of Blackbaud by 215.9% during the second quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after acquiring an additional 313 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Blackbaud in the 2nd quarter valued at about $33,000. GAMMA Investing LLC boosted its stake in Blackbaud by 46.6% during the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after purchasing an additional 247 shares during the last quarter. Versant Capital Management Inc increased its holdings in Blackbaud by 68.3% during the 3rd quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock worth $51,000 after purchasing an additional 319 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $61,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

Shares of NASDAQ:BLKB opened at $52.36 on Tuesday. The company has a market capitalization of $2.50 billion, a P/E ratio of -10.07, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. The company’s 50-day moving average is $59.89 and its 200 day moving average is $62.59. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. Blackbaud, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $81.39.

Analyst Ratings Changes

BLKB has been the topic of several analyst reports. Zacks Research cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Blackbaud currently has an average rating of “Reduce” and a consensus target price of $73.00.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the transaction, the chief executive officer owned 372,985 shares in the company, valued at approximately $21,513,774.80. This represents a 1.32% 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, Director Rupal S. Hollenbeck sold 1,600 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $56.49, for a total value of $90,384.00. Following the transaction, the director directly owned 6,366 shares of the company’s stock, valued at approximately $359,615.34. This trade represents a 20.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.97% of the stock is owned by insiders.

Blackbaud Company Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.