Geneva Capital Management LLC Decreases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,060,788 shares of the technology company’s stock after selling 1,300 shares during the period. Blackbaud makes up approximately 1.7% of Geneva Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Geneva Capital Management LLC’s holdings in Blackbaud were worth $91,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Blackbaud by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,200 shares of the technology company’s stock worth $35,651,000 after buying an additional 3,670 shares during the period. Natixis Advisors L.P. grew its stake in shares of Blackbaud by 12.8% in the fourth quarter. Natixis Advisors L.P. now owns 12,905 shares of the technology company’s stock worth $1,118,000 after purchasing an additional 1,463 shares during the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Blackbaud in the fourth quarter worth about $208,000. Victory Capital Management Inc. grew its stake in shares of Blackbaud by 13.6% in the fourth quarter. Victory Capital Management Inc. now owns 8,978 shares of the technology company’s stock worth $778,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Blackbaud in the fourth quarter worth about $1,078,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLKB. Robert W. Baird cut their price objective on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now 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 at this link. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,799 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.02, for a total transaction of $429,241.98. Following the transaction, the chief executive officer now directly owns 402,060 shares of the company’s stock, valued at approximately $29,760,481.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,897 shares of company stock valued at $4,377,015. Company insiders own 1.89% of the company’s stock.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $0.40 during midday trading on Thursday, hitting $77.66. The company had a trading volume of 163,173 shares, compared to its average volume of 273,520. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 188.78 and a beta of 1.01. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The company has a fifty day moving average of $74.37 and a two-hundred day moving average of $76.90.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. Blackbaud’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts expect that Blackbaud, Inc. will post 2.3 EPS for the current fiscal year.

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.