GAMMA Investing LLC Sells 272 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

GAMMA Investing LLC trimmed its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 34.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515 shares of the technology company’s stock after selling 272 shares during the period. GAMMA Investing LLC’s holdings in Blackbaud were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Retirement Systems of Alabama raised its stake in shares of Blackbaud by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock worth $4,678,000 after buying an additional 163 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Blackbaud by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock worth $1,113,000 after buying an additional 183 shares during the last quarter. Comerica Bank raised its stake in shares of Blackbaud by 0.9% during the fourth quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock worth $1,792,000 after buying an additional 186 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Blackbaud by 3.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock worth $797,000 after buying an additional 277 shares during the last quarter. Finally, Gotham Asset Management LLC raised its stake in shares of Blackbaud by 8.0% during the third quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock worth $299,000 after buying an additional 316 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Down 0.2 %

Shares of NASDAQ:BLKB opened at $75.26 on Wednesday. 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 capitalization of $3.89 billion, a PE ratio of 183.57 and a beta of 1.03. The company has a 50 day moving average price of $77.81 and a two-hundred day moving average price of $77.92.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, April 30th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. The firm had revenue of $279.25 million during the quarter, compared to the consensus estimate of $282.22 million. Analysts forecast that Blackbaud, Inc. will post 2.27 earnings per share for the current year.

Insider Transactions at Blackbaud

In other news, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the sale, the executive vice president now owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David J. Benjamin sold 1,768 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the sale, the executive vice president now owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony W. Boor sold 3,100 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The disclosure for this sale can be found here. Insiders sold 36,468 shares of company stock valued at $2,858,894 over the last quarter. Corporate insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

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

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.