Blackbaud, Inc. (NASDAQ:BLKB) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,612 shares of the technology company’s stock after buying an additional 275 shares during the period. Brookstone Capital Management’s holdings in Blackbaud were worth $563,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC lifted its position in Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after purchasing an additional 235,859 shares during the period. Wellington Management Group LLP raised its stake in shares of Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Blackbaud in the 3rd quarter valued at approximately $5,987,000. Millennium Management LLC boosted its stake in shares of Blackbaud by 2,240.8% in the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock valued at $4,830,000 after buying an additional 60,702 shares in the last quarter. Finally, State Street Corp grew its holdings in Blackbaud by 3.5% during the third quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after acquiring an additional 56,090 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, COO Kevin P. Gregoire sold 6,619 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $85.68, for a total transaction of $567,115.92. Following the completion of the sale, the chief operating officer now owns 99,096 shares of the company’s stock, valued at approximately $8,490,545.28. This represents a 6.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now directly owns 140,262 shares in the company, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,923 shares of company stock valued at $3,737,450. Insiders own 1.95% of the company’s stock.

Blackbaud Stock Up 0.9 %

BLKB stock opened at $78.07 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50 day simple moving average is $79.40 and its 200-day simple moving average is $80.26. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The firm has a market capitalization of $3.96 billion, a PE ratio of 76.54 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The company had revenue of $286.70 million for 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%. Blackbaud’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. Equities analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

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.