272 Capital LP Makes New $872,000 Investment in Blackbaud, Inc. (NASDAQ:BLKB)

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

Other institutional investors have also made changes to their positions in the company. Great Lakes Advisors LLC bought a new stake in shares of Blackbaud during the 2nd quarter valued at $4,262,000. Simcoe Capital Management LLC acquired a new position in Blackbaud in the third quarter valued at about $5,987,000. Kestrel Investment Management Corp bought a new stake in Blackbaud during the second quarter worth about $4,795,000. Teachers Retirement System of The State of Kentucky grew its stake in Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock worth $4,770,000 after buying an additional 19,270 shares in the last quarter. Finally, First Personal Financial Services bought a new position in Blackbaud in the 2nd quarter valued at about $1,007,000. 94.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 800 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total value of $66,520.00. Following the sale, the chief executive officer now owns 373,293 shares in the company, valued at approximately $31,039,312.95. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sarah E. Nash sold 3,100 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the completion of the sale, the director now directly owns 23,723 shares of the company's stock, valued at approximately $1,992,257.54. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,394 shares of company stock worth $4,373,270. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

NASDAQ:BLKB traded down $1.80 on Friday, hitting $78.46. The company had a trading volume of 107,704 shares, compared to its average volume of 229,942. The firm has a 50 day moving average of $83.15 and a two-hundred day moving average of $80.48. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 76.92 and a beta of 1.06. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

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.