Creative Planning Has $340,000 Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Creative Planning boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 36.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,467 shares of the technology company’s stock after purchasing an additional 1,187 shares during the quarter. Creative Planning’s holdings in Blackbaud were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BLKB. Wellington Management Group LLP grew its holdings in Blackbaud by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after purchasing an additional 77,348 shares during the period. Vanguard Group Inc. lifted its stake in Blackbaud by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock valued at $483,316,000 after buying an additional 23,727 shares in the last quarter. Tributary Capital Management LLC lifted its stake in Blackbaud by 28.9% in the first quarter. Tributary Capital Management LLC now owns 289,989 shares of the technology company’s stock valued at $21,500,000 after buying an additional 64,960 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Blackbaud by 5.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock valued at $19,633,000 after buying an additional 12,881 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its stake in Blackbaud by 16.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 10,939 shares of the technology company’s stock valued at $811,000 after buying an additional 1,552 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other news, EVP David J. Benjamin sold 5,590 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $78.04, for a total value of $436,243.60. Following the transaction, the executive vice president now directly owns 51,108 shares of the company’s stock, valued at $3,988,468.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kevin Mcdearis sold 3,210 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.16, for a total transaction of $273,363.60. Following the transaction, the executive vice president now directly owns 63,802 shares of the company’s stock, valued at approximately $5,433,378.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David J. Benjamin sold 5,590 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,988,468.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,409 shares of company stock worth $4,483,193 over the last quarter. 1.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of 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 boosted their price objective 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 raised shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. 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 research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Blackbaud Stock Performance

Shares of BLKB stock opened at $86.34 on Friday. The stock has a market cap of $4.46 billion, a P/E ratio of 210.59 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80. The company has a fifty day moving average price of $82.07 and a two-hundred day moving average price of $78.83. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. As a group, equities analysts predict that Blackbaud, Inc. will post 2.45 EPS for the current year.

Blackbaud declared that its board has approved a share repurchase program on Tuesday, July 30th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.