ArrowMark Colorado Holdings LLC Boosts Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

ArrowMark Colorado Holdings LLC boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,283,473 shares of the technology company’s stock after buying an additional 235,859 shares during the period. Blackbaud makes up approximately 1.4% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 20th largest holding. ArrowMark Colorado Holdings LLC owned 2.53% of Blackbaud worth $108,684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. DT Investment Partners LLC acquired a new stake in shares of Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC boosted its stake 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 worth $33,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. grew its position in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares during the period. Meeder Asset Management Inc. acquired a new position in Blackbaud in the 3rd quarter worth about $142,000. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in Blackbaud in the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Trading Down 0.3 %

BLKB opened at $83.94 on Monday. The business’s 50 day moving average price is $83.65 and its 200 day moving average price is $80.38. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $4.26 billion, a PE ratio of 82.29 and a beta of 1.03. Blackbaud, Inc. has a one year low of $66.47 and a one year high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS 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 net margin of 4.61% and a return on equity of 20.34%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities research analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current year.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 12,325 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the sale, the chief executive officer now owns 389,539 shares in the company, valued at $32,429,121.75. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anthony W. Boor sold 10,000 shares of Blackbaud 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 completion of the transaction, the chief financial officer now owns 140,262 shares of the company’s stock, valued at $11,901,230.70. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,394 shares of company stock valued at $4,373,270. 1.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Raymond James decreased their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.67.

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.