Calamos Advisors LLC Buys New Shares in Blackbaud, Inc. (NASDAQ:BLKB)

Calamos Advisors LLC purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the 4th quarter, Holdings Channel.com reports. The fund purchased 91,251 shares of the technology company’s stock, valued at approximately $6,745,000.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares during the period. Blue Trust Inc. lifted its holdings in Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after purchasing an additional 333 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after purchasing an additional 3,739 shares during the last quarter. Inspire Investing LLC boosted its position in Blackbaud by 11.6% during the fourth quarter. Inspire Investing LLC now owns 5,445 shares of the technology company’s stock worth $402,000 after purchasing an additional 566 shares during the period. Finally, Heritage Family Offices LLP increased its holdings in shares of Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BLKB shares. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Blackbaud currently has an average rating of “Hold” and an average target price of $86.67.

Blackbaud Stock Up 3.0 %

BLKB opened at $78.77 on Wednesday. The stock has a fifty day moving average of $77.57 and a 200-day moving average of $80.39. The company has a market capitalization of $3.88 billion, a P/E ratio of 77.23 and a beta of 1.08. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68.

Insiders Place Their Bets

In related news, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total value of $848,500.00. Following the transaction, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This trade represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Gianoni sold 800 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the sale, the chief executive officer now directly owns 373,293 shares of the company’s stock, valued at $31,039,312.95. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,923 shares of company stock worth $3,737,450 in the last quarter. 1.95% of the stock is currently owned by corporate insiders.

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.