Blackbaud, Inc. (NASDAQ:BLKB) Position Raised by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 702.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,769 shares of the technology company’s stock after purchasing an additional 15,554 shares during the quarter. SG Americas Securities LLC’s holdings in Blackbaud were worth $1,505,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. DT Investment Partners LLC bought a new position in Blackbaud during the second quarter valued at about $33,000. Quest Partners LLC boosted its position in shares of Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of Blackbaud by 447.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after purchasing an additional 2,078 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in shares of Blackbaud in the 2nd quarter worth approximately $201,000. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Blackbaud by 23.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,956 shares of the technology company’s stock valued at $219,000 after purchasing an additional 564 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $81.10 on Wednesday. Blackbaud, Inc. has a 12 month low of $64.32 and a 12 month high of $88.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The stock has a market cap of $4.19 billion, a PE ratio of 197.80 and a beta of 1.02. The business has a fifty day simple moving average of $81.01 and a 200-day simple moving average of $78.29.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. During the same period last year, the company posted $0.49 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 2.46 EPS for the current fiscal year.

Blackbaud announced that its board has initiated a share buyback plan on Tuesday, July 30th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to purchase up to 18.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BLKB shares. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Robert W. Baird lifted their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Raymond James reduced their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Buying and Selling

In other Blackbaud news, Director Sarah E. Nash sold 3,220 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the completion of the sale, the director now owns 26,823 shares in the company, valued at $2,043,376.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.00, for a total transaction 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 $2,251,728. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sarah E. Nash sold 3,220 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the completion of the sale, the director now directly owns 26,823 shares of the company’s stock, valued at approximately $2,043,376.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,409 shares of company stock worth $4,483,193. 1.95% of the stock is owned by company insiders.

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.