Occudo Quantitative Strategies LP Purchases Shares of 7,859 Blackbaud, Inc. (NASDAQ:BLKB)

Occudo Quantitative Strategies LP acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,859 shares of the technology company’s stock, valued at approximately $581,000.

Several other large investors also recently modified their holdings of the company. Xponance Inc. increased its position in shares of Blackbaud by 2.4% during the fourth quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock worth $417,000 after buying an additional 130 shares during the period. Heritage Family Offices LLP increased its position in shares of 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 buying an additional 166 shares during the period. Huntington National Bank increased its position in shares of Blackbaud by 13.9% during the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after buying an additional 227 shares during the period. Brookstone Capital Management increased its position in shares of Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after buying an additional 275 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Down 0.8%

Shares of NASDAQ BLKB opened at $63.16 on Thursday. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The firm has a market cap of $3.06 billion, a PE ratio of -10.71 and a beta of 1.16. The company’s fifty day simple moving average is $62.65 and its 200 day simple moving average is $72.30. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. During the same period last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In related news, SVP Jon W. Olson sold 10,698 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $61.15, for a total transaction of $654,182.70. Following the transaction, the senior vice president now directly owns 23,799 shares of the company’s stock, valued at $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

BLKB has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and a consensus target price of $78.67.

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.