Calamos Advisors LLC Makes New $6.75 Million Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Calamos Advisors LLC acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 91,251 shares of the technology company's stock, valued at approximately $6,745,000. Calamos Advisors LLC owned about 0.19% of Blackbaud as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BLKB. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock valued at $99,000 after buying an additional 347 shares during the period. KBC Group NV increased its stake in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after buying an additional 424 shares during the period. Blue Trust Inc. increased its stake in Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company's stock valued at $135,000 after buying an additional 1,047 shares during the period. Meeder Asset Management Inc. acquired a new position in Blackbaud during the 3rd quarter valued at about $142,000. Finally, Heritage Family Offices LLP increased its stake in Blackbaud by 5.9% during the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock valued at $221,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Upgrades and Downgrades

BLKB has been the topic of several research analyst reports. Robert W. Baird cut shares of Blackbaud from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Baird R W cut 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $86.67.

Blackbaud Price Performance

Shares of BLKB traded down $0.65 during mid-day trading on Friday, hitting $78.06. The company's stock had a trading volume of 129,982 shares, compared to its average volume of 158,311. The firm has a 50-day moving average price of $77.24 and a 200 day moving average price of $80.38. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 76.53 and a beta of 1.08. 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, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

Insider Transactions at Blackbaud

In other news, CFO Anthony W. Boor sold 10,000 shares of Blackbaud stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 140,262 shares of the company's stock, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Gianoni sold 12,325 shares of Blackbaud stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the completion of the transaction, the chief executive officer now directly owns 389,539 shares in the company, valued at approximately $32,429,121.75. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,823 shares of company stock valued at $3,477,112 in the last quarter. 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.