Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 22.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,283,473 shares of the technology company’s stock after buying an additional 235,859 shares during the period. Blackbaud accounts for about 1.4% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 20th largest holding. ArrowMark Colorado Holdings LLC’s holdings in Blackbaud were worth $108,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLKB. Envestnet Portfolio Solutions Inc. lifted its position in shares of Blackbaud by 6.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after acquiring an additional 184 shares in the last quarter. Raymond James & Associates increased its stake in shares of Blackbaud by 86.3% during the 2nd quarter. Raymond James & Associates now owns 19,150 shares of the technology company’s stock valued at $1,459,000 after acquiring an additional 8,870 shares during the last quarter. DT Investment Partners LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth about $33,000. Tributary Capital Management LLC boosted its position in shares of Blackbaud by 0.3% in the second quarter. Tributary Capital Management LLC now owns 290,721 shares of the technology company’s stock worth $22,144,000 after acquiring an additional 732 shares during the last quarter. Finally, Calamos Advisors LLC grew its holdings in Blackbaud by 95.9% in the second quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company’s stock valued at $2,945,000 after purchasing an additional 18,929 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackbaud

In other news, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Gianoni sold 800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $83.15, for a total value of $66,520.00. Following the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at $31,039,312.95. This trade represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,394 shares of company stock worth $4,373,270 in the last three months. 1.95% of the stock is owned by company insiders.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $83.94 on Monday. The firm has a market cap of $4.26 billion, a PE ratio of 82.29 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The business has a 50 day moving average price of $83.65 and a two-hundred day moving average price of $80.38. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data 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). The firm had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. Sell-side analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BLKB shares. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and cut their price target for the company from $92.00 to $80.00 in a report on Thursday, October 31st. Raymond James cut their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Stifel Nicolaus upped their price target on shares of 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.67.

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.