Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by Geneva Capital Management LLC

Geneva Capital Management LLC lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,175,493 shares of the technology company’s stock after buying an additional 4,122 shares during the quarter. Blackbaud makes up 1.7% of Geneva Capital Management LLC’s holdings, making the stock its 18th largest position. Geneva Capital Management LLC’s holdings in Blackbaud were worth $99,541,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. DT Investment Partners LLC acquired a new stake in Blackbaud in the second quarter valued at approximately $33,000. Quest Partners LLC increased its holdings in shares of Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the last quarter. Blue Trust Inc. increased its holdings 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 worth $135,000 after buying an additional 1,047 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after buying an additional 2,078 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kevin Mcdearis sold 18,996 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, EVP Kevin Mcdearis sold 18,996 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00. Following the sale, the executive vice president now owns 67,012 shares of the company’s stock, valued at $5,561,996. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the senior vice president now directly owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,189 shares of company stock valued at $3,933,893. Corporate insiders own 1.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLKB. Raymond James lowered their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.67.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $0.19 during midday trading on Tuesday, hitting $86.82. The stock had a trading volume of 66,633 shares, compared to its average volume of 230,389. The company has a market capitalization of $4.40 billion, a PE ratio of 84.93 and a beta of 1.03. The stock has a 50 day moving average price of $83.20 and a two-hundred day moving average price of $79.74. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million during the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. As a group, equities analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Blackbaud declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to buy up to 18.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.