Yousif Capital Management LLC decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB – Free Report) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,576 shares of the technology company’s stock after selling 165 shares during the period. Yousif Capital Management LLC’s holdings in Blackbaud were worth $1,565,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Blackbaud by 58.8% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 408 shares of the technology company’s stock worth $28,000 after acquiring an additional 151 shares during the last quarter. New York State Teachers Retirement System raised its stake in Blackbaud by 0.3% during the fourth quarter. New York State Teachers Retirement System now owns 67,569 shares of the technology company’s stock worth $3,977,000 after purchasing an additional 200 shares during the period. Guggenheim Capital LLC boosted its holdings in Blackbaud by 4.2% in the 3rd quarter. Guggenheim Capital LLC now owns 6,064 shares of the technology company’s stock valued at $268,000 after purchasing an additional 243 shares during the last quarter. Sei Investments Co. grew its stake in shares of Blackbaud by 2.9% in the 2nd quarter. Sei Investments Co. now owns 8,802 shares of the technology company’s stock valued at $490,000 after buying an additional 244 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Blackbaud by 2.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 11,945 shares of the technology company’s stock worth $694,000 after buying an additional 263 shares during the last quarter. 94.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on BLKB shares. Raymond James raised Blackbaud from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Monday, June 5th. StockNews.com cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Finally, Robert W. Baird upgraded shares of Blackbaud from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $66.00 to $84.00 in a research report on Thursday, May 4th.
Blackbaud Stock Up 1.7 %
Blackbaud (NASDAQ:BLKB – Get Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $261.75 million during the quarter, compared to analysts’ expectations of $258.35 million. Blackbaud had a negative net margin of 4.68% and a positive return on equity of 8.29%. Sell-side analysts anticipate that Blackbaud, Inc. will post 1.93 earnings per share for the current year.
Insider Buying and Selling at Blackbaud
In other Blackbaud news, EVP Kevin Mcdearis sold 6,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $70.05, for a total transaction of $420,300.00. Following the completion of the transaction, the executive vice president now owns 71,974 shares in the company, valued at approximately $5,041,778.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Kevin Mcdearis sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $70.05, for a total value of $420,300.00. Following the completion of the transaction, the executive vice president now directly owns 71,974 shares of the company’s stock, valued at approximately $5,041,778.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 3,500 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $69.70, for a total value of $243,950.00. Following the completion of the sale, the senior vice president now directly owns 47,152 shares in the company, valued at approximately $3,286,494.40. The disclosure for this sale can be found here. Insiders sold a total of 19,275 shares of company stock valued at $1,377,474 in the last ninety days. Insiders own 1.89% of the company’s stock.
Blackbaud Profile
Blackbaud, Inc provides cloud software solutions to higher education institutions, K12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents 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 Management.
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