Mutual of America Capital Management LLC Trims Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Mutual of America Capital Management LLC decreased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 6.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 21,573 shares of the technology company’s stock after selling 1,570 shares during the period. Mutual of America Capital Management LLC’s holdings in Blackbaud were worth $1,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC grew its holdings in Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after buying an additional 413 shares during the period. DT Investment Partners LLC purchased a new stake in shares of Blackbaud during the 2nd quarter valued at $33,000. Blue Trust Inc. increased its holdings in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after buying an additional 1,047 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Blackbaud in the 2nd quarter worth $201,000. Finally, Heritage Family Offices LLP acquired a new position in Blackbaud in the second quarter valued at $220,000. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Up 1.9 %

Shares of Blackbaud stock opened at $86.98 on Monday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.56. The business has a 50-day moving average of $83.59 and a 200-day moving average of $80.12. The company has a market capitalization of $4.41 billion, a PE ratio of 85.28 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business’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 earnings per share. As a group, equities analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Blackbaud declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 30th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 18.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Kevin Mcdearis sold 18,996 shares of the firm’s 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 transaction, the executive vice president now directly owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. This trade represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the transaction, the director now directly owns 23,723 shares of the company’s stock, valued at $1,992,257.54. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,911 shares of company stock worth $4,686,054. 1.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BLKB has been the topic of a number of research reports. Raymond James cut their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. 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 research note on Thursday, September 26th. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Finally, Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.67.

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.