Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 8.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 80,007 shares of the technology company's stock after selling 7,086 shares during the period. Chartwell Investment Partners LLC owned 0.16% of Blackbaud worth $6,775,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Blackbaud by 99.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,276 shares of the technology company's stock valued at $465,000 after purchasing an additional 3,128 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Blackbaud by 23.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,956 shares of the technology company's stock worth $219,000 after acquiring an additional 564 shares in the last quarter. SG Americas Securities LLC acquired a new position in Blackbaud during the first quarter valued at approximately $720,000. Inspire Investing LLC grew its stake in Blackbaud by 10.1% in the first quarter. Inspire Investing LLC now owns 4,847 shares of the technology company's stock valued at $359,000 after purchasing an additional 444 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Blackbaud by 22.6% during the 1st quarter. US Bancorp DE now owns 6,449 shares of the technology company's stock worth $478,000 after purchasing an additional 1,190 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

NASDAQ:BLKB traded down $0.88 during trading hours on Tuesday, reaching $85.75. The stock had a trading volume of 303,490 shares, compared to its average volume of 231,471. The stock has a 50 day simple moving average of $83.20 and a 200 day simple moving average of $79.74. Blackbaud, Inc. has a 12-month low of $66.47 and a 12-month high of $88.56. 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 $4.35 billion, a P/E ratio of 84.93 and a beta of 1.03.

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

Blackbaud announced that its board has initiated a stock repurchase program on Tuesday, July 30th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the technology company to buy up to 18.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Blackbaud

In other news, EVP Kevin Mcdearis sold 18,996 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the transaction, the executive vice president now owns 67,012 shares of the company's stock, valued at $5,561,996. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Blackbaud news, SVP Jon W. Olson sold 3,603 shares of Blackbaud stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $77.90, for a total value of $280,673.70. Following the transaction, the senior vice president now owns 26,025 shares in the company, valued at $2,027,347.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Mcdearis sold 18,996 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the sale, the executive vice president now directly owns 67,012 shares in the company, valued at approximately $5,561,996. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,189 shares of company stock worth $3,933,893. 1.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BLKB shares. Evercore ISI raised shares of Blackbaud to a "hold" rating in a report on Thursday, August 1st. Raymond James lowered their price target 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 shares of Blackbaud from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, September 26th. Finally, Baird R W downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $86.67.

Blackbaud 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.