Azzad Asset Management Inc. ADV Increases Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Azzad Asset Management Inc. ADV boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,164 shares of the technology company’s stock after buying an additional 225 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Blackbaud were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Blackbaud by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after buying an additional 71,619 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Blackbaud by 1.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock worth $210,599,000 after buying an additional 53,057 shares in the last quarter. Geneva Capital Management LLC raised its stake in shares of Blackbaud by 12.7% in the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after purchasing an additional 135,103 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Blackbaud by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after purchasing an additional 24,910 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Blackbaud during the fourth quarter worth about $43,589,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Activity

In other news, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total transaction of $245,299.60. Following the sale, the director now owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total transaction of $245,299.60. Following the sale, the director now owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kevin P. Gregoire sold 7,333 shares of Blackbaud stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $77.65, for a total value of $569,407.45. Following the sale, the chief operating officer now directly owns 110,715 shares in the company, valued at approximately $8,597,019.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,942 shares of company stock valued at $1,850,705. Insiders own 1.95% of the company’s stock.

Analyst Upgrades and Downgrades

BLKB has been the subject of a number of research reports. Evercore ISI upgraded Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

Blackbaud Stock Performance

Shares of BLKB stock opened at $83.60 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average of $77.69 and a two-hundred day moving average of $75.96. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The company has a market cap of $4.32 billion, a P/E ratio of 203.90 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The company had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period in the previous year, the firm posted $0.49 earnings per share. Blackbaud’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts anticipate that Blackbaud, Inc. will post 2.27 EPS for the current 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.