State of Alaska Department of Revenue acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 3rd quarter, HoldingsChannel reports. The firm acquired 8,770 shares of the technology company’s stock, valued at approximately $792,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in Blackbaud in the second quarter valued at approximately $25,000. Advisory Services Network LLC increased its stake in Blackbaud by 70.6% in the 2nd quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Blackbaud during the 2nd quarter worth about $77,000. Tower Research Capital LLC TRC increased its stake in shares of Blackbaud by 1,097.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock worth $123,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Private Capital Group LLC increased its stake in shares of Blackbaud by 13.3% during the 2nd quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock worth $128,000 after purchasing an additional 147 shares during the last quarter.
Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. DA Davidson boosted their price objective on shares of Blackbaud to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Bank of America restated an “underperform” rating and set a $80.00 price objective (up from $70.00) on shares of Blackbaud in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 price objective on the stock. in a research note on Wednesday, August 7th. Finally, ValuEngine lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Blackbaud has a consensus rating of “Hold” and an average price target of $89.00.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.37. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $223.53 million. Blackbaud had a net margin of 3.04% and a return on equity of 20.51%. Blackbaud’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, analysts expect that Blackbaud, Inc. will post 1.27 EPS for the current year.
In related news, Director George H. Ellis sold 2,000 shares of Blackbaud stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $88.20, for a total transaction of $176,400.00. Following the completion of the sale, the director now owns 4,404 shares of the company’s stock, valued at approximately $388,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total transaction of $88,620.00. Following the sale, the director now directly owns 12,051 shares of the company’s stock, valued at approximately $1,067,959.62. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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