SG Americas Securities LLC Has $1.51 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

SG Americas Securities LLC lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 702.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,769 shares of the technology company's stock after acquiring an additional 15,554 shares during the quarter. SG Americas Securities LLC's holdings in Blackbaud were worth $1,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quest Partners LLC lifted its stake in Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company's stock valued at $33,000 after acquiring an additional 413 shares during the last quarter. DT Investment Partners LLC acquired a new stake in Blackbaud in the 2nd quarter valued at about $33,000. EntryPoint Capital LLC grew its holdings in Blackbaud by 447.8% during the first quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company's stock worth $188,000 after purchasing an additional 2,078 shares during the period. Legacy Capital Wealth Partners LLC acquired a new position in Blackbaud during the second quarter worth approximately $201,000. Finally, Heritage Family Offices LLP bought a new stake in Blackbaud in the second quarter valued at approximately $220,000. Institutional investors own 94.21% of the company's stock.

Insider Activity at Blackbaud

In other Blackbaud 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, EVP Kevin Mcdearis sold 18,996 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were 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 directly owns 67,012 shares in the company, valued at approximately $5,561,996. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jon W. Olson sold 2,000 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the transaction, the senior vice president now directly owns 24,025 shares of the company's stock, valued at $2,042,125. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,409 shares of company stock valued at $4,483,193 in the last 90 days. 1.95% of the stock is owned by corporate insiders.

Blackbaud Price Performance

Shares of BLKB stock traded up $0.30 on Wednesday, reaching $81.40. The company had a trading volume of 99,441 shares, compared to its average volume of 234,917. The business's 50-day moving average is $81.01 and its 200 day moving average is $78.29. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $4.20 billion, a PE ratio of 198.98 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts forecast that Blackbaud, Inc. will post 2.46 EPS for the current fiscal year.

Blackbaud announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 18.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLKB. Stifel Nicolaus increased their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, September 26th. Robert W. Baird raised their price objective on shares of Blackbaud from $88.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Evercore ISI raised Blackbaud to a "hold" rating in a research report on Thursday, August 1st. Finally, Raymond James lowered their target price on Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.67.

About Blackbaud

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.