Two Sigma Investments LP Grows Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Two Sigma Investments LP boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 20.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,076 shares of the technology company’s stock after buying an additional 518 shares during the period. Two Sigma Investments LP’s holdings in Blackbaud were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Xponance Inc. increased its stake in Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after purchasing an additional 130 shares in the last quarter. Huntington National Bank grew its holdings in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after buying an additional 227 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Blackbaud by 10.7% during the 4th quarter. EP Wealth Advisors LLC now owns 3,843 shares of the technology company’s stock valued at $284,000 after buying an additional 372 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Blackbaud by 9.3% during the 4th quarter. EntryPoint Capital LLC now owns 5,118 shares of the technology company’s stock valued at $378,000 after buying an additional 437 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Blackbaud by 1.7% during the 4th quarter. Sei Investments Co. now owns 26,898 shares of the technology company’s stock valued at $1,988,000 after buying an additional 450 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackbaud

In other news, SVP Jon W. Olson sold 10,698 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total transaction of $654,182.70. Following the sale, the senior vice president now owns 23,799 shares in the company, valued at $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Chad Anderson sold 5,500 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the sale, the chief financial officer now owns 35,976 shares in the company, valued at $2,302,104.24. This trade represents a 13.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.

Analyst Ratings Changes

BLKB has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Robert W. Baird lowered their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and a consensus target price of $78.67.

Blackbaud Price Performance

Shares of NASDAQ:BLKB opened at $61.94 on Thursday. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The business’s fifty day moving average price is $62.30 and its two-hundred day moving average price is $69.55. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market cap of $3.01 billion, a PE ratio of -10.50 and a beta of 1.14.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $270.66 million for the quarter, compared to analysts’ expectations of $268.53 million. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal 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.