Healthcare of Ontario Pension Plan Trust Fund Buys 7,100 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 49.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,600 shares of the technology company's stock after acquiring an additional 7,100 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Blackbaud were worth $1,829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLKB. Quest Partners LLC grew its position in Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company's stock valued at $33,000 after purchasing an additional 413 shares in the last quarter. DT Investment Partners LLC acquired a new position in Blackbaud during the second quarter valued at approximately $33,000. Blue Trust Inc. boosted its position in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company's stock valued at $135,000 after purchasing an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Blackbaud in the third quarter valued at approximately $142,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Blackbaud during the 2nd quarter worth approximately $201,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Blackbaud Stock Performance

BLKB traded down $0.71 on Monday, reaching $83.23. The company had a trading volume of 167,584 shares, compared to its average volume of 231,627. The company's fifty day moving average is $83.65 and its 200 day moving average is $80.39. 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 cap of $4.22 billion, a P/E ratio of 81.60 and a beta of 1.03. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its 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). The firm had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. Blackbaud's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. As a group, analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 12,325 shares of Blackbaud stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the completion of the transaction, the chief executive officer now directly owns 389,539 shares of the company's stock, valued at $32,429,121.75. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares of the company's stock, valued at approximately $11,901,230.70. The trade was a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,394 shares of company stock valued at $4,373,270. 1.95% of the stock is currently owned by corporate insiders.

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.