Gardner Lewis Asset Management L P Makes New $556,000 Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Gardner Lewis Asset Management L P acquired a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,300 shares of the technology company’s stock, valued at approximately $556,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Blackbaud during the fourth quarter worth about $43,589,000. Public Employees Retirement Association of Colorado increased its position in Blackbaud by 1,371.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after purchasing an additional 316,992 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Blackbaud in the fourth quarter valued at approximately $23,010,000. Geneva Capital Management LLC lifted its position in Blackbaud by 12.7% during the first quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after buying an additional 135,103 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Blackbaud by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after buying an additional 77,348 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Price Performance

BLKB opened at $84.18 on Wednesday. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 205.32 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The company has a fifty day simple moving average of $79.18 and a 200 day simple moving average of $77.00.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The company had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Blackbaud, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin Mcdearis sold 18,996 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the completion of the sale, the executive vice president now owns 67,012 shares of the company’s stock, valued at $5,561,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now directly owns 29,628 shares of the company’s stock, valued at $2,251,728. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the transaction, the executive vice president now owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The disclosure for this sale can be found here. Insiders have sold 47,938 shares of company stock worth $3,847,373 in the last three months. 1.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BLKB shares. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird upped their target price on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

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.