Heritage Family Offices LLP Acquires 166 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Heritage Family Offices LLP grew its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,985 shares of the technology company’s stock after acquiring an additional 166 shares during the quarter. Heritage Family Offices LLP’s holdings in Blackbaud were worth $221,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Blackbaud by 31.7% during the second quarter. Victory Capital Management Inc. now owns 14,337 shares of the technology company’s stock valued at $1,092,000 after buying an additional 3,451 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Blackbaud by 3.9% in the 2nd quarter. Federated Hermes Inc. now owns 32,256 shares of the technology company’s stock worth $2,457,000 after purchasing an additional 1,224 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Blackbaud by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 130,517 shares of the technology company’s stock worth $9,941,000 after buying an additional 8,799 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after buying an additional 8,761 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLKB shares. Stifel Nicolaus boosted their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $80.00 in a report 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 on the stock in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackbaud presently has an average rating of “Hold” and an average price target of $86.67.

Blackbaud Stock Up 1.2 %

Blackbaud stock opened at $77.40 on Friday. The business’s 50-day moving average price is $79.64 and its 200 day moving average price is $80.26. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 75.88 and a beta of 1.08. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its 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). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period last year, the firm earned $0.65 earnings per share. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Insider Transactions at Blackbaud

In other news, COO Kevin P. Gregoire sold 6,619 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $85.68, for a total transaction of $567,115.92. Following the transaction, the chief operating officer now owns 99,096 shares in the company, valued at $8,490,545.28. This trade represents a 6.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now directly owns 140,262 shares of the company’s stock, 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. Insiders have sold a total of 43,923 shares of company stock valued at $3,737,450 in the last ninety days. 1.95% of the stock is currently owned by corporate insiders.

About Blackbaud

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.