Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 5.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,587 shares of the technology company’s stock after selling 260 shares during the quarter. Inspire Investing LLC’s holdings in Blackbaud were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BLKB. Envestnet Portfolio Solutions Inc. acquired a new position in Blackbaud during the fourth quarter valued at $207,000. Vanguard Personalized Indexing Management LLC bought a new stake in Blackbaud during the 4th quarter valued at approximately $296,000. Norges Bank bought a new stake in Blackbaud during the 4th quarter valued at approximately $43,589,000. Franklin Resources Inc. boosted its stake in Blackbaud by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock valued at $1,113,000 after purchasing an additional 183 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of Blackbaud stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of Blackbaud stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now directly owns 29,628 shares in the company, valued at approximately $2,251,728. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,409 shares of company stock valued at $4,483,193. 1.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Blackbaud Stock Down 0.1 %

Shares of BLKB opened at $84.69 on Tuesday. 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 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 206.56 and a beta of 1.02. The business’s fifty day moving average price is $80.02 and its two-hundred day moving average price is $77.47.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The business had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. On average, analysts predict that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Blackbaud announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to buy up to 18.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Blackbaud

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.