Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. reduced its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 523,456 shares of the technology company’s stock after selling 140,460 shares during the period. Van Berkom & Associates Inc. owned 1.06% of Blackbaud worth $38,694,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BLKB. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after buying an additional 347 shares in the last quarter. KBC Group NV raised its holdings in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares during the period. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud in the third quarter valued at about $142,000. Finally, Heritage Family Offices LLP increased its position in Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after purchasing an additional 166 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLKB has been the topic of several recent analyst reports. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird reduced their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.33.

Blackbaud Stock Down 3.4 %

Shares of BLKB opened at $66.22 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a market cap of $3.26 billion, a P/E ratio of -11.22 and a beta of 1.08. The company’s 50-day moving average price is $76.35 and its 200 day moving average price is $80.19. Blackbaud, Inc. has a 12-month low of $66.07 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 21.42%. The company had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. On average, sell-side analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the sale, the chief executive officer now owns 344,079 shares in the company, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.95% of the stock is owned by insiders.

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.