Charles Schwab Investment Management Inc. Has $34.75 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Charles Schwab Investment Management Inc. raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,375 shares of the technology company’s stock after purchasing an additional 2,934 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of Blackbaud worth $34,751,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System lifted its position in Blackbaud by 1.2% during the second quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after acquiring an additional 137 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Blackbaud by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Blackbaud by 6.2% during the second 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. Azzad Asset Management Inc. ADV increased its stake in Blackbaud by 2.1% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after acquiring an additional 225 shares during the period. Finally, Inspire Investing LLC raised its holdings in Blackbaud by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after acquiring an additional 292 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Down 0.7 %

BLKB stock opened at $82.67 on Wednesday. The firm has a 50-day moving average price of $83.63 and a 200-day moving average price of $80.42. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $4.19 billion, a P/E ratio of 81.05 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. Blackbaud’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Jon W. Olson sold 2,000 shares of the 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 completion of the sale, the senior vice president now owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.15, for a total value of $66,520.00. Following the completion of the transaction, the chief executive officer now directly owns 373,293 shares in the company, valued at approximately $31,039,312.95. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,394 shares of company stock worth $4,373,270 in the last 90 days. Insiders own 1.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLKB shares. Raymond James decreased their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Stifel Nicolaus raised their target price 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 downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.67.

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.