Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 203,323 shares of the technology company’s stock after selling 5,408 shares during the period. Ameriprise Financial Inc.’s holdings in Blackbaud were worth $15,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BLKB. Vestcor Inc acquired a new position in Blackbaud in the 4th quarter valued at about $75,000. KBC Group NV increased its position in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after acquiring an additional 424 shares during the period. Huntington National Bank increased its position in Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares during the period. Blue Trust Inc. increased its position in Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Blackbaud by 31.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company’s stock valued at $154,000 after acquiring an additional 499 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Up 1.0%

BLKB stock opened at $64.46 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company’s 50-day moving average price is $62.54 and its 200 day moving average price is $71.97. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a market cap of $3.13 billion, a P/E ratio of -10.93 and a beta of 1.16.

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

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 10,698 shares of Blackbaud 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 completion of the transaction, the senior vice president now owns 23,799 shares of the company’s stock, valued at $1,455,308.85. The trade was a 31.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BLKB has been the topic of several recent research reports. Stifel Nicolaus dropped their price target on Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Robert W. Baird dropped their price objective 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.67.

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.