EP Wealth Advisors LLC Invests $294,000 in Blackbaud, Inc. (NASDAQ:BLKB)

EP Wealth Advisors LLC bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,471 shares of the technology company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. DT Investment Partners LLC purchased a new position in Blackbaud in the second quarter worth $33,000. Quest Partners LLC raised 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 purchasing an additional 413 shares during the period. Blue Trust Inc. boosted its holdings in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after buying an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Blackbaud during the third quarter valued at about $142,000. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in Blackbaud during the second quarter worth about $201,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Performance

NASDAQ BLKB opened at $78.46 on Friday. The firm has a market cap of $3.98 billion, a P/E ratio of 76.92 and a beta of 1.06. 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 company’s 50 day moving average is $83.08 and its 200-day moving average is $80.47. Blackbaud, Inc. has a 12-month low of $66.47 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $286.70 million for 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 revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Sell-side analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Blackbaud

In other news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares in the company, valued at $30,323,682.27. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jon W. Olson sold 2,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the senior vice president now directly owns 24,025 shares in the company, valued at approximately $2,042,125. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,394 shares of company stock valued at $4,373,270 in the last quarter. 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.