Swiss National Bank Has $6.83 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Swiss National Bank decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,653 shares of the technology company’s stock after selling 3,500 shares during the period. Swiss National Bank’s holdings in Blackbaud were worth $6,830,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of Blackbaud by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after acquiring an additional 137 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Blackbaud by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after purchasing an additional 151 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Blackbaud by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after buying an additional 184 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Blackbaud by 2.1% during the second quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after buying an additional 225 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Blackbaud by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after buying an additional 292 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah E. Nash sold 1,600 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.46, for a total transaction of $133,536.00. Following the sale, the director now directly owns 22,123 shares in the company, valued at $1,846,385.58. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,390 shares of company stock worth $6,369,938. 1.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BLKB has been the subject of several recent analyst reports. Raymond James reduced their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Blackbaud Stock Down 1.2 %

Blackbaud stock opened at $86.41 on Wednesday. The firm has a 50 day moving average price of $83.65 and a 200-day moving average price of $80.19. 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, Inc. has a twelve month low of $66.47 and a twelve month high of $88.95. The company has a market capitalization of $4.38 billion, a P/E ratio of 84.72 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. As a group, equities analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 30th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.