Geneva Capital Management LLC Acquires 4,122 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,175,493 shares of the technology company’s stock after purchasing an additional 4,122 shares during the quarter. Blackbaud comprises 1.7% of Geneva Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Geneva Capital Management LLC owned 2.32% of Blackbaud worth $99,541,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BLKB. Vanguard Group Inc. raised its position in shares of Blackbaud by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after buying an additional 71,619 shares during the last quarter. Kestrel Investment Management Corp bought a new stake in Blackbaud in the 2nd quarter valued at $4,795,000. Millennium Management LLC lifted its stake in Blackbaud by 2,240.8% in the 2nd quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after purchasing an additional 60,702 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of Blackbaud during the 2nd quarter valued at about $4,262,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Blackbaud by 20.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company’s stock valued at $27,103,000 after purchasing an additional 54,138 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Blackbaud Trading Up 0.2 %

NASDAQ BLKB traded up $0.19 on Tuesday, hitting $86.82. 66,633 shares of the stock were exchanged, compared to its average volume of 230,389. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.56. The firm has a market capitalization of $4.40 billion, a P/E ratio of 84.93 and a beta of 1.03. The stock has a fifty day moving average price of $83.20 and a two-hundred day moving average price of $79.74.

Blackbaud (NASDAQ:BLKB) last issued its quarterly 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 business had revenue of $286.70 million during the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. Research analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

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

Insider Transactions at Blackbaud

In other news, COO Kevin P. Gregoire sold 7,333 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $77.65, for a total transaction of $569,407.45. Following the transaction, the chief operating officer now owns 110,715 shares in the company, valued at approximately $8,597,019.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Kevin P. Gregoire sold 7,333 shares of Blackbaud stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $77.65, for a total value of $569,407.45. Following the transaction, the chief operating officer now directly owns 110,715 shares in the company, valued at approximately $8,597,019.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Mcdearis sold 2,261 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the sale, the executive vice president now directly owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,189 shares of company stock valued at $3,933,893. 1.95% of the stock is currently owned by company 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.