Wellington Management Group LLP Increases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Wellington Management Group LLP grew its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 456,432 shares of the technology company’s stock after buying an additional 77,348 shares during the period. Wellington Management Group LLP owned 0.85% of Blackbaud worth $39,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Blackbaud by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock worth $390,336,000 after acquiring an additional 70,115 shares in the last quarter. Morgan Stanley boosted its position in shares of Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock worth $301,014,000 after purchasing an additional 72,071 shares in the last quarter. Hawk Ridge Capital Management LP grew its stake in shares of Blackbaud by 15.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock worth $104,396,000 after buying an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Blackbaud by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after buying an additional 24,910 shares in the last quarter. Finally, Norges Bank purchased a new position in Blackbaud during the fourth quarter valued at $43,589,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackbaud

In other Blackbaud news, EVP David J. Benjamin sold 16,700 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $77.81, for a total value of $1,299,427.00. Following the completion of the transaction, the executive vice president now owns 74,458 shares of the company’s stock, valued at approximately $5,793,576.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Kevin P. Gregoire sold 5,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the chief operating officer now directly owns 128,641 shares of the company’s stock, valued at approximately $10,162,639. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David J. Benjamin sold 16,700 shares of Blackbaud stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $77.81, for a total value of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares of the company’s stock, valued at approximately $5,793,576.98. The disclosure for this sale can be found here. Insiders have sold 36,468 shares of company stock valued at $2,858,894 over the last ninety days. Insiders own 1.95% of the company’s stock.

Blackbaud Trading Down 0.0 %

Shares of NASDAQ BLKB opened at $75.71 on Monday. The firm’s 50 day moving average price is $77.91 and its 200-day moving average price is $78.04. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $3.91 billion, a PE ratio of 184.66 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The business had revenue of $279.25 million for the quarter, compared to analysts’ expectations of $282.22 million. On average, equities research analysts expect that Blackbaud, Inc. will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

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.