XTX Topco Ltd Invests $573,000 in Blackbaud, Inc. (NASDAQ:BLKB)

XTX Topco Ltd purchased a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,761 shares of the technology company's stock, valued at approximately $573,000.

Several other hedge funds also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Blackbaud by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company's stock worth $239,000 after buying an additional 184 shares during the period. Raymond James & Associates raised its holdings in Blackbaud by 86.3% during the second quarter. Raymond James & Associates now owns 19,150 shares of the technology company's stock worth $1,459,000 after acquiring an additional 8,870 shares in the last quarter. DT Investment Partners LLC bought a new stake in Blackbaud in the second quarter valued at approximately $33,000. Tributary Capital Management LLC grew its position in shares of Blackbaud by 0.3% in the second quarter. Tributary Capital Management LLC now owns 290,721 shares of the technology company's stock valued at $22,144,000 after purchasing an additional 732 shares during the last quarter. Finally, Calamos Advisors LLC grew its position in shares of Blackbaud by 95.9% in the second quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company's stock valued at $2,945,000 after purchasing an additional 18,929 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Blackbaud Stock Down 2.2 %

Shares of NASDAQ:BLKB traded down $1.80 during trading on Friday, reaching $78.46. 107,704 shares of the stock traded hands, compared to its average volume of 229,942. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day moving average of $83.15 and a two-hundred day moving average of $80.48. The stock has a market cap of $3.98 billion, a P/E ratio of 78.69 and a beta of 1.06.

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

Insiders Place Their Bets

In related news, CFO Anthony W. Boor sold 10,000 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 12,325 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the sale, the chief executive officer now owns 389,539 shares in the company, valued at approximately $32,429,121.75. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,394 shares of company stock valued at $4,373,270 in the last three months. Corporate insiders own 1.95% of the company's stock.

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.