American Capital Management Inc. Lowers Position in Blackbaud, Inc. (NASDAQ:BLKB)

American Capital Management Inc. cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 3.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 429,377 shares of the technology company's stock after selling 16,828 shares during the period. American Capital Management Inc. owned about 0.85% of Blackbaud worth $36,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Geneva Capital Management LLC lifted its holdings in shares of Blackbaud by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company's stock valued at $99,541,000 after buying an additional 4,122 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Blackbaud by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company's stock valued at $78,949,000 after acquiring an additional 8,761 shares during the period. Van Berkom & Associates Inc. boosted its position in Blackbaud by 1.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company's stock worth $50,076,000 after purchasing an additional 10,203 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Blackbaud by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 431,841 shares of the technology company's stock worth $32,893,000 after purchasing an additional 45,549 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Blackbaud by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company's stock valued at $34,751,000 after purchasing an additional 2,934 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased 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 lowered shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Robert W. Baird lowered 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 note on Thursday, October 31st. Finally, Raymond James lowered their price target 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $86.67.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded down $0.29 during trading on Friday, hitting $83.94. The company had a trading volume of 95,978 shares, compared to its average volume of 258,130. The stock has a fifty day simple moving average of $83.65 and a two-hundred day simple moving average of $80.38. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. 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 (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm had revenue of $286.70 million for the quarter, compared to analysts' expectations of $293.74 million. During the same period in the previous year, the business posted $0.65 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Insiders Place Their Bets

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company's stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sarah E. Nash sold 1,600 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $83.46, for a total transaction of $133,536.00. Following the completion of the sale, the director now directly owns 22,123 shares of the company's stock, valued at $1,846,385.58. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,394 shares of company stock valued at $4,373,270 over the last quarter. Company insiders own 1.95% of the company's stock.

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.