Victory Capital Management Inc. Has $1.09 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Victory Capital Management Inc. increased its position in Blackbaud, Inc. (NASDAQ:BLKB) by 31.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,337 shares of the technology company’s stock after purchasing an additional 3,451 shares during the period. Victory Capital Management Inc.’s holdings in Blackbaud were worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Blackbaud by 1.4% in the 4th 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 in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock worth $239,000 after buying an additional 184 shares in the last quarter. Comerica Bank lifted its position in Blackbaud by 0.9% in the 4th quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock worth $1,792,000 after buying an additional 186 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in Blackbaud by 2.1% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after buying an additional 225 shares in the last quarter. Finally, Redmond Asset Management LLC lifted its position in Blackbaud by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 43,172 shares of the technology company’s stock worth $3,201,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BLKB shares. Robert W. Baird increased their target price on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st.

Blackbaud Stock Up 1.9 %

BLKB stock opened at $85.69 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The company has a fifty day simple moving average of $79.56 and a 200 day simple moving average of $77.20. The firm has a market cap of $4.42 billion, a PE ratio of 209.00 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The business had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. During the same quarter in the previous year, the business earned $0.49 EPS. Blackbaud’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Blackbaud, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Blackbaud

In related news, EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction on Friday, August 30th. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the sale, the executive vice president now owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackbaud news, EVP Kevin Mcdearis sold 18,996 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the completion of the transaction, the executive vice president now owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David J. Benjamin sold 5,590 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $78.04, for a total transaction of $436,243.60. Following the transaction, the executive vice president now directly owns 51,108 shares of the company’s stock, valued at approximately $3,988,468.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,148 shares of company stock valued at $4,290,736. Insiders own 1.95% of the company’s stock.

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.