Comerica Bank Has $1.06 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Comerica Bank trimmed its position in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,575 shares of the technology company’s stock after selling 880 shares during the period. Comerica Bank’s holdings in Blackbaud were worth $1,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BLKB. First Horizon Advisors Inc. bought a new stake in Blackbaud in the second quarter valued at approximately $43,000. UMB Bank n.a. increased its position in shares of Blackbaud by 51.0% in the 2nd quarter. UMB Bank n.a. now owns 811 shares of the technology company’s stock valued at $47,000 after buying an additional 274 shares in the last quarter. Lazard Asset Management LLC raised its stake in Blackbaud by 51.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,680 shares of the technology company’s stock worth $97,000 after buying an additional 572 shares during the period. Pacer Advisors Inc. bought a new position in Blackbaud during the third quarter worth about $90,000. Finally, Captrust Financial Advisors grew its stake in Blackbaud by 20.1% in the first quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $134,000 after acquiring an additional 374 shares during the period. Institutional investors own 97.39% of the company’s stock.

Blackbaud Price Performance

BLKB stock opened at $63.52 on Wednesday. The stock has a 50-day moving average price of $59.10 and a two-hundred day moving average price of $55.59. Blackbaud, Inc. has a 1 year low of $43.54 and a 1 year high of $71.57. The stock has a market cap of $3.37 billion, a PE ratio of -102.45, a price-to-earnings-growth ratio of 9.37 and a beta of 1.09. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.14.

Blackbaud (NASDAQ:BLKB – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. Blackbaud had a positive return on equity of 6.95% and a negative net margin of 3.03%. The company had revenue of $261.30 million during the quarter, compared to analysts’ expectations of $261.38 million. Equities analysts forecast that Blackbaud, Inc. will post 0.86 EPS for the current fiscal year.

Insider Transactions at Blackbaud

In other news, COO Kevin P. Gregoire sold 1,023 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $58.78, for a total value of $60,131.94. Following the sale, the chief operating officer now owns 97,358 shares of the company’s stock, valued at $5,722,703.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TheStreet raised Blackbaud from a “d+” rating to a “c-” rating in a research report on Friday, December 2nd. StockNews.com started coverage on shares of Blackbaud in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Blackbaud Company Profile

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.