10,297 Shares in Blackbaud, Inc. (NASDAQ:BLKB) Bought by 272 Capital LP

272 Capital LP bought a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,297 shares of the technology company's stock, valued at approximately $872,000.

Other large investors also recently modified their holdings of the company. Fred Alger Management LLC lifted its stake in Blackbaud by 3.5% in the third quarter. Fred Alger Management LLC now owns 90,936 shares of the technology company's stock valued at $7,700,000 after purchasing an additional 3,045 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of Blackbaud by 4.0% during the 3rd quarter. Martingale Asset Management L P now owns 31,999 shares of the technology company's stock valued at $2,710,000 after buying an additional 1,220 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Blackbaud by 49.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,600 shares of the technology company's stock valued at $1,829,000 after buying an additional 7,100 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Blackbaud by 13.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company's stock worth $607,000 after acquiring an additional 846 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Blackbaud by 17.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company's stock worth $2,028,000 after acquiring an additional 3,533 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Wall Street Analysts Forecast Growth

BLKB has been the subject of a number of research reports. Baird R W lowered shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird downgraded shares of Blackbaud from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, September 26th. Finally, Raymond James dropped their target price on Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Blackbaud presently has an average rating of "Hold" and an average target price of $86.67.

Insider Transactions at Blackbaud

In related news, EVP Kevin Mcdearis sold 3,210 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $85.16, for a total transaction of $273,363.60. Following the transaction, the executive vice president now directly owns 63,802 shares of the company's stock, valued at approximately $5,433,378.32. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Anthony W. Boor sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total value of $848,500.00. Following the completion of the sale, the chief financial officer now directly owns 140,262 shares of the company's stock, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,394 shares of company stock valued at $4,373,270 in the last quarter. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

NASDAQ:BLKB traded down $0.29 during trading hours on Friday, hitting $83.94. The stock had a trading volume of 95,978 shares, compared to its average volume of 258,130. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 82.29 and a beta of 1.03. Blackbaud, Inc. has a one year low of $66.47 and a one year high of $88.95. The company has a 50 day simple moving average of $83.65 and a two-hundred day simple moving average of $80.38. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to analysts' expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. Research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Blackbaud Company 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.