Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,683 shares of the technology company’s stock after selling 13,680 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Blackbaud worth $6,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Quest Partners LLC boosted its holdings in Blackbaud by 2,950.0% in the second 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 period. DT Investment Partners LLC acquired a new position in shares of Blackbaud during the second quarter worth about $33,000. Blue Trust Inc. increased its stake in shares of Blackbaud by 190.4% during the third 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 period. Meeder Asset Management Inc. acquired a new stake in Blackbaud in the third quarter valued at approximately $142,000. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in shares of Blackbaud in the 2nd quarter valued at $201,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLKB. Stifel Nicolaus raised their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and cut their target price 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 note on Thursday, October 31st. Finally, Raymond James cut 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.67.

Insider Activity

In related news, SVP Jon W. Olson sold 2,000 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at $2,042,125. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the transaction, the chief financial officer now directly owns 140,262 shares of the company’s stock, valued at $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,394 shares of company stock valued at $4,373,270. Insiders own 1.95% of the company’s stock.

Blackbaud Price Performance

Shares of BLKB opened at $78.13 on Tuesday. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95. The stock has a market cap of $3.96 billion, a PE ratio of 76.60 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a fifty day moving average price of $83.30 and a 200 day moving average price of $80.47.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company had revenue of $286.70 million during 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 was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 2.6 EPS 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.