Blackbaud, Inc. (NASDAQ:BLKB) Stake Raised by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 49.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,600 shares of the technology company’s stock after acquiring an additional 7,100 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Blackbaud were worth $1,829,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BLKB. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Blackbaud by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock worth $239,000 after acquiring an additional 184 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Blackbaud by 86.3% during the 2nd quarter. Raymond James & Associates now owns 19,150 shares of the technology company’s stock valued at $1,459,000 after buying an additional 8,870 shares during the last quarter. DT Investment Partners LLC bought a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $33,000. Tributary Capital Management LLC increased its holdings in Blackbaud by 0.3% in the second quarter. Tributary Capital Management LLC now owns 290,721 shares of the technology company’s stock worth $22,144,000 after buying an additional 732 shares during the last quarter. Finally, Calamos Advisors LLC raised its position in Blackbaud by 95.9% during the second quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company’s stock valued at $2,945,000 after acquiring an additional 18,929 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Blackbaud

In other news, EVP Kevin Mcdearis sold 3,210 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.16, for a total transaction of $273,363.60. Following the completion of the transaction, the executive vice president now owns 63,802 shares of the company’s stock, valued at approximately $5,433,378.32. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 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 sold a total of 51,394 shares of company stock worth $4,373,270 over the last three months. 1.95% of the stock is currently owned by insiders.

Blackbaud Stock Performance

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

Blackbaud (NASDAQ:BLKB) last posted 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 return on equity of 20.34% and a net margin of 4.61%. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period in the prior year, the firm posted $0.65 EPS. Blackbaud’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud Company 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.