Summitry LLC Makes New Investment in Blackbaud, Inc. $BLKB

Summitry LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,600 shares of the technology company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BLKB. Avantax Advisory Services Inc. grew its holdings in Blackbaud by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock worth $733,000 after acquiring an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Blackbaud by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after purchasing an additional 231 shares in the last quarter. Aristides Capital LLC grew its stake in Blackbaud by 7.8% during the first quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock worth $257,000 after purchasing an additional 298 shares during the period. CWM LLC increased its holdings in Blackbaud by 215.9% in the second quarter. CWM LLC now owns 458 shares of the technology company’s stock worth $29,000 after purchasing an additional 313 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Blackbaud by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock valued at $1,454,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insiders Place Their Bets

In other Blackbaud news, CEO Michael P. Gianoni sold 5,000 shares of Blackbaud stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $57.68, for a total transaction of $288,400.00. Following the completion of the sale, the chief executive officer directly owned 372,985 shares in the company, valued at $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.97% of the stock is owned by corporate insiders.

Blackbaud Stock Up 1.7%

BLKB opened at $61.28 on Monday. The firm has a market capitalization of $2.93 billion, a P/E ratio of -11.78, a price-to-earnings-growth ratio of 4.75 and a beta of 1.08. Blackbaud, Inc. has a one year low of $56.22 and a one year high of $88.95. The company has a fifty day moving average price of $64.21 and a 200-day moving average price of $64.02. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $274.76 million for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%. Equities research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on BLKB shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. Wall Street Zen raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a research note on Wednesday, October 29th. Finally, Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.00.

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.