Tributary Capital Management LLC Grows Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Tributary Capital Management LLC increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,148 shares of the technology company's stock after purchasing an additional 3,739 shares during the period. Blackbaud makes up 1.7% of Tributary Capital Management LLC's holdings, making the stock its 28th biggest position. Tributary Capital Management LLC owned approximately 0.60% of Blackbaud worth $21,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company's stock valued at $139,492,000 after buying an additional 56,090 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company's stock valued at $108,684,000 after acquiring an additional 235,859 shares during the period. Geneva Capital Management LLC boosted its position in Blackbaud by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company's stock worth $99,541,000 after purchasing an additional 4,122 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company's stock worth $78,949,000 after purchasing an additional 8,761 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock valued at $36,332,000 after purchasing an additional 154,019 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackbaud news, Director Sarah E. Nash sold 3,100 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the sale, the director now owns 23,723 shares of the company's stock, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kevin P. Gregoire sold 6,619 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $85.68, for a total value of $567,115.92. Following the completion of the transaction, the chief operating officer now directly owns 99,096 shares in the company, valued at approximately $8,490,545.28. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,923 shares of company stock valued at $3,737,450. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded up $0.01 during mid-day trading on Friday, reaching $76.26. The company's stock had a trading volume of 130,877 shares, compared to its average volume of 120,699. The stock has a 50-day moving average of $78.65 and a two-hundred day moving average of $80.36. 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 market capitalization of $3.76 billion, a P/E ratio of 74.77 and a beta of 1.08. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95.

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

Wall Street Analysts Forecast Growth

BLKB has been the topic of several analyst reports. Raymond James dropped their price target on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Robert W. Baird lowered shares of Blackbaud from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $92.00 to $80.00 in a research 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $86.67.

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.