Beck Bode LLC Sells 2,841 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Beck Bode LLC lowered its position in Blackbaud, Inc. (NASDAQ:BLKB) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,352 shares of the technology company’s stock after selling 2,841 shares during the quarter. Blackbaud makes up about 1.8% of Beck Bode LLC’s portfolio, making the stock its 23rd biggest position. Beck Bode LLC’s holdings in Blackbaud were worth $7,920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BLKB. Operose Advisors LLC bought a new position in Blackbaud in the third quarter worth approximately $25,000. FSC Wealth Advisors LLC purchased a new stake in Blackbaud during the third quarter worth $40,000. GAMMA Investing LLC purchased a new stake in Blackbaud during the fourth quarter worth $64,000. Gotham Asset Management LLC lifted its holdings in Blackbaud by 8.0% during the third quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock worth $299,000 after buying an additional 316 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in Blackbaud during the third quarter worth $311,000. Institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

BLKB has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday.

Blackbaud Stock Down 1.2 %

Shares of BLKB traded down $0.98 during midday trading on Tuesday, hitting $77.92. 344,706 shares of the company’s stock traded hands, compared to its average volume of 275,987. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The firm’s fifty day moving average is $73.20 and its 200-day moving average is $76.54. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 2,597.33 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The firm had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 2.35 earnings per share for the current year.

Insider Activity

In related news, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.00, for a total value of $31,746.00. Following the transaction, the chief financial officer now directly owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the sale, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony W. Boor sold 429 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.00, for a total value of $31,746.00. Following the sale, the chief financial officer now directly owns 161,368 shares in the company, valued at $11,941,232. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,897 shares of company stock worth $4,377,015. Insiders own 1.89% of the company’s stock.

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.