UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 13,680 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 14.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,683 shares of the technology company's stock after selling 13,680 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Blackbaud worth $6,832,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Blackbaud by 49.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,600 shares of the technology company's stock valued at $1,829,000 after buying an additional 7,100 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Blackbaud by 13.4% in the third quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company's stock valued at $607,000 after acquiring an additional 846 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Blackbaud by 17.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company's stock worth $2,028,000 after acquiring an additional 3,533 shares in the last quarter. Citigroup Inc. grew its position in Blackbaud by 37.8% during the 3rd quarter. Citigroup Inc. now owns 72,036 shares of the technology company's stock worth $6,100,000 after acquiring an additional 19,749 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Stock Up 2.7 %

Shares of NASDAQ:BLKB traded up $2.10 during midday trading on Tuesday, hitting $80.23. The stock had a trading volume of 154,919 shares, compared to its average volume of 231,147. The company has a market cap of $4.07 billion, a P/E ratio of 78.66 and a beta of 1.06. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The business's 50-day simple moving average is $83.23 and its 200-day simple moving average is $80.47. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) 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 business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same period in the previous year, the business earned $0.65 earnings per share. The business's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Blackbaud

In other Blackbaud news, EVP Kevin Mcdearis sold 3,210 shares of Blackbaud stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.16, for a total value of $273,363.60. Following the completion of the sale, the executive vice president now owns 63,802 shares in the company, valued at $5,433,378.32. The trade was a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon W. Olson sold 2,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the sale, the senior vice president now directly owns 24,025 shares of the company's stock, valued at $2,042,125. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.