Entropy Technologies LP acquired a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,100 shares of the technology company's stock, valued at approximately $377,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Blackbaud by 3.5% during the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company's stock valued at $139,492,000 after acquiring an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company's stock worth $108,684,000 after buying an additional 235,859 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Blackbaud by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company's stock worth $99,541,000 after buying an additional 4,122 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock worth $36,332,000 after buying an additional 154,019 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Blackbaud by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company's stock worth $34,751,000 after buying an additional 2,934 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on BLKB. Baird R W downgraded shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird downgraded shares of 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 research report 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, Blackbaud has an average rating of "Hold" and an average price target of $86.67.
Read Our Latest Analysis on BLKB
Blackbaud Stock Performance
Shares of BLKB stock traded down $0.91 during trading hours on Friday, reaching $79.88. The stock had a trading volume of 128,899 shares, compared to its average volume of 158,311. 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 twelve month low of $66.47 and a twelve month high of $88.95. The firm has a 50-day simple moving average of $77.03 and a 200-day simple moving average of $80.40. The firm has a market capitalization of $3.93 billion, a PE ratio of 78.31 and a beta of 1.08.
Insider Buying and Selling
In other Blackbaud news, CFO Anthony W. Boor sold 10,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the transaction, the chief financial officer now owns 140,262 shares of the company's stock, valued at approximately $11,901,230.70. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 12,325 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the transaction, the chief executive officer now directly owns 389,539 shares in the company, valued at approximately $32,429,121.75. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,204 shares of company stock valued at $2,909,997 in the last quarter. Company insiders own 1.95% of the company's stock.
About Blackbaud
(
Free Report)
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.
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