Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by Barclays PLC

Barclays PLC increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 170.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,557 shares of the technology company's stock after purchasing an additional 50,765 shares during the quarter. Barclays PLC owned approximately 0.16% of Blackbaud worth $6,821,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BLKB. Arizona State Retirement System raised its position in shares of Blackbaud by 1.2% in the second quarter. Arizona State Retirement System now owns 11,977 shares of the technology company's stock valued at $912,000 after buying an additional 137 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Blackbaud by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company's stock valued at $2,045,000 after acquiring an additional 151 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company's stock worth $239,000 after purchasing an additional 184 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Blackbaud by 2.1% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company's stock worth $850,000 after purchasing an additional 225 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Blackbaud by 6.4% in the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company's stock valued at $413,000 after purchasing an additional 292 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLKB shares. Robert W. Baird lowered Blackbaud from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price target 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. Raymond James dropped their price objective 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. Finally, Baird R W downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $86.67.

Insiders Place Their Bets

In other Blackbaud news, COO Kevin P. Gregoire sold 6,619 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $85.68, for a total transaction of $567,115.92. Following the sale, the chief operating officer now directly owns 99,096 shares in the company, valued at $8,490,545.28. This represents a 6.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Gianoni sold 9,479 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 344,079 shares of the company's stock, valued at $30,323,682.27. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,923 shares of company stock worth $3,737,450 over the last ninety days. Corporate insiders own 1.95% of the company's stock.

Blackbaud Trading Up 0.8 %

Shares of NASDAQ BLKB traded up $0.59 during mid-day trading on Thursday, reaching $76.19. 159,599 shares of the company's stock were exchanged, compared to its average volume of 230,858. The company's 50-day moving average is $82.84 and its 200-day moving average is $80.48. 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 firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 74.70 and a beta of 1.06. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95.

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 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 company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. Blackbaud's revenue was up 3.3% on a year-over-year basis. Analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current fiscal 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.