Wellington Management Group LLP Has $36.33 Million Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Wellington Management Group LLP increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 56.0% during the third quarter, HoldingsChannel reports. The fund owned 429,051 shares of the technology company’s stock after acquiring an additional 154,019 shares during the quarter. Wellington Management Group LLP’s holdings in Blackbaud were worth $36,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its position in shares of Blackbaud by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after purchasing an additional 184 shares during the period. Raymond James & Associates raised its stake in shares of Blackbaud by 86.3% in the 2nd quarter. Raymond James & Associates now owns 19,150 shares of the technology company’s stock valued at $1,459,000 after buying an additional 8,870 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of Blackbaud during the 2nd quarter worth about $33,000. Tributary Capital Management LLC boosted its position in shares of Blackbaud by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 290,721 shares of the technology company’s stock valued at $22,144,000 after acquiring an additional 732 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in Blackbaud by 95.9% in the second quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company’s stock valued at $2,945,000 after acquiring an additional 18,929 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Down 1.1 %

BLKB opened at $80.26 on Friday. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95. The stock has a market capitalization of $4.07 billion, a PE ratio of 78.69 and a beta of 1.06. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a 50-day moving average price of $83.15 and a two-hundred day moving average price of $80.48.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data 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 company had revenue of $286.70 million during 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%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, equities analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BLKB shares. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price 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 lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Raymond James reduced their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares of the company’s stock, valued at $11,901,230.70. The trade was a 6.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the sale, the chief executive officer now directly owns 389,539 shares in the company, valued at $32,429,121.75. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,394 shares of company stock valued at $4,373,270. 1.95% of the stock is currently owned by insiders.

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.