7,300 Shares in Blackbaud, Inc. (NASDAQ:BLKB) Bought by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 7,300 shares of the technology company’s stock, valued at approximately $556,000.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Blackbaud by 13.6% during the fourth quarter. Victory Capital Management Inc. now owns 8,978 shares of the technology company’s stock worth $778,000 after purchasing an additional 1,073 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Blackbaud by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,200 shares of the technology company’s stock valued at $35,651,000 after buying an additional 3,670 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Blackbaud by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock worth $89,145,000 after acquiring an additional 24,910 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Blackbaud during the 4th quarter worth $207,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Blackbaud during the 4th quarter worth $296,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Down 0.3 %

Shares of NASDAQ BLKB opened at $84.18 on Wednesday. The firm’s 50-day moving average is $79.18 and its two-hundred day moving average is $77.00. The company has a market capitalization of $4.35 billion, a PE ratio of 205.32 and a beta of 1.02. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st.

Insider Activity at Blackbaud

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 transaction, the executive vice president now directly owns 67,012 shares in the company, valued at approximately $5,561,996. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Kevin Mcdearis sold 18,996 shares of the company’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 transaction, the executive vice president now owns 67,012 shares of the company’s stock, valued at $5,561,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kevin P. Gregoire sold 5,000 shares of Blackbaud stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $84.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief operating officer now directly owns 105,715 shares of the company’s stock, valued at $8,880,060. The disclosure for this sale can be found here. Insiders have sold a total of 47,938 shares of company stock valued at $3,847,373 over the last quarter. Insiders own 1.95% of the company’s stock.

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.