Grandfield & Dodd LLC Has $2.31 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Grandfield & Dodd LLC lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 17.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,310 shares of the technology company’s stock after selling 5,905 shares during the period. Grandfield & Dodd LLC’s holdings in Blackbaud were worth $2,313,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BLKB. DT Investment Partners LLC bought a new position in Blackbaud in the 2nd quarter valued at $33,000. Quest Partners LLC boosted its holdings in Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. boosted its holdings in Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Blackbaud in the third quarter worth about $142,000. Finally, EntryPoint Capital LLC raised its holdings in 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 purchasing an additional 2,078 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BLKB shares. Raymond James reduced 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. Stifel Nicolaus raised 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. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.67.

Blackbaud Stock Up 1.4 %

Shares of Blackbaud stock opened at $83.50 on Wednesday. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $4.24 billion, a P/E ratio of 81.86 and a beta of 1.03. The business has a 50-day moving average of $83.45 and a two-hundred day moving average of $79.99.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business 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%. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, equities analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud declared that its board has approved a share buyback program on Tuesday, July 30th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the technology company to repurchase up to 18.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Sarah E. Nash sold 3,100 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares in the company, valued at approximately $1,992,257.54. This represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction 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 trade represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,186 shares of company stock worth $3,459,942. 1.95% of the stock is owned by corporate insiders.

Blackbaud 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.