Wellington Management Group LLP Increases Position in Blackbaud, Inc. (NASDAQ:BLKB)

Wellington Management Group LLP lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 56.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 429,051 shares of the technology company's stock after acquiring an additional 154,019 shares during the quarter. Wellington Management Group LLP owned 0.85% of Blackbaud worth $36,332,000 at the end of the most recent quarter.

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

Blackbaud Stock Down 1.9 %

Shares of BLKB traded down $1.51 during mid-day trading on Friday, hitting $78.75. 25,903 shares of the company's stock were exchanged, compared to its average volume of 229,587. The company has a market cap of $3.99 billion, a PE ratio of 78.69 and a beta of 1.06. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a 50-day simple moving average of $83.15 and a 200 day simple moving average of $80.48. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings results 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 company 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 for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. On average, research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Blackbaud

In related news, SVP Jon W. Olson sold 2,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares of the company's stock, valued at approximately $2,042,125. This represents a 7.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Gianoni sold 800 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $83.15, for a total value of $66,520.00. Following the completion of the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at approximately $31,039,312.95. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,394 shares of company stock worth $4,373,270 over the last ninety days. 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.