M&T Bank Corp Increases Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

M&T Bank Corp boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 85.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,193 shares of the technology company’s stock after buying an additional 11,591 shares during the period. M&T Bank Corp’s holdings in Blackbaud were worth $2,133,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC raised its stake in shares of Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after acquiring an additional 235,859 shares during the period. Wellington Management Group LLP grew its holdings in Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in Blackbaud in the 3rd quarter worth about $5,987,000. Kestrel Investment Management Corp bought a new stake in Blackbaud in the second quarter worth about $4,795,000. Finally, Millennium Management LLC boosted its position in shares of Blackbaud by 2,240.8% during the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock valued at $4,830,000 after buying an additional 60,702 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BLKB has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Finally, Raymond James cut their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Four equities 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 currently has an average rating of “Hold” and an average target price of $86.67.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 800 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the completion of the sale, the chief executive officer now directly owns 373,293 shares in the company, valued at $31,039,312.95. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the sale, the chief financial officer now directly owns 140,262 shares in the company, valued at approximately $11,901,230.70. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,394 shares of company stock valued at $4,373,270. Company insiders own 1.95% of the company’s stock.

Blackbaud Trading Down 2.2 %

Shares of NASDAQ BLKB opened at $78.46 on Friday. Blackbaud, Inc. has a twelve month low of $66.47 and a twelve month high of $88.95. The firm has a market cap of $3.98 billion, a PE ratio of 76.92 and a beta of 1.06. The business has a fifty day simple moving average of $83.08 and a two-hundred day simple moving average of $80.49. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

Blackbaud (NASDAQ:BLKB) last released 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). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

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.