Natixis Advisors LLC Buys 1,492 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Natixis Advisors LLC increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,912 shares of the technology company’s stock after acquiring an additional 1,492 shares during the quarter. Natixis Advisors LLC’s holdings in Blackbaud were worth $1,601,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geneva Capital Management LLC boosted its holdings in shares of Blackbaud by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock valued at $99,541,000 after purchasing an additional 4,122 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after buying an additional 8,761 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in Blackbaud by 1.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock worth $50,076,000 after acquiring an additional 10,203 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Blackbaud by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 431,841 shares of the technology company’s stock worth $32,893,000 after acquiring an additional 45,549 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Blackbaud by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after acquiring an additional 10,555 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction on Friday, August 30th. The stock was sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the completion of the sale, the executive vice president now directly owns 67,012 shares of the company’s stock, valued at $5,561,996. The trade was a 22.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kevin P. Gregoire sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $84.00, for a total value of $420,000.00. Following the transaction, the chief operating officer now directly owns 105,715 shares in the company, valued at $8,880,060. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,390 shares of company stock valued at $6,369,938 in the last three months. Company insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Raymond James reduced their price target 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. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.67.

Blackbaud Price Performance

Shares of BLKB stock opened at $87.47 on Tuesday. The stock has a 50 day moving average price of $83.65 and a 200 day moving average price of $80.19. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $4.44 billion, a P/E ratio of 85.75 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, sell-side analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to buy up to 18.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.