Mitsubishi UFJ Asset Management Co. Ltd. Has $143,000 Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,300 shares of the technology company’s stock after purchasing an additional 231 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Blackbaud were worth $143,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. boosted its position in Blackbaud by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after purchasing an additional 210 shares during the last quarter. UMB Bank n.a. boosted its position in Blackbaud by 63.2% during the first quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock valued at $43,000 after purchasing an additional 268 shares during the last quarter. Procyon Advisors LLC boosted its position in Blackbaud by 8.0% during the first quarter. Procyon Advisors LLC now owns 3,722 shares of the technology company’s stock valued at $231,000 after purchasing an additional 275 shares during the last quarter. Versant Capital Management Inc boosted its position in Blackbaud by 127.4% during the first quarter. Versant Capital Management Inc now owns 523 shares of the technology company’s stock valued at $32,000 after purchasing an additional 293 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Blackbaud by 10.7% during the fourth quarter. EP Wealth Advisors LLC now owns 3,843 shares of the technology company’s stock valued at $284,000 after purchasing an additional 372 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BLKB. Wall Street Zen upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Stifel Nicolaus dropped their price objective on Blackbaud from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $78.67.

Blackbaud Price Performance

NASDAQ:BLKB opened at $62.54 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. The stock’s 50 day moving average price is $63.97 and its two-hundred day moving average price is $65.12. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -10.82, a P/E/G ratio of 4.41 and a beta of 1.13. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.16. The firm had revenue of $281.38 million for the quarter, compared to analyst estimates of $276.48 million. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total transaction of $581,360.00. Following the transaction, the executive vice president owned 111,156 shares in the company, valued at approximately $8,077,706.52. This trade represents a 6.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the transaction, the director owned 7,966 shares in the company, valued at approximately $509,664.68. This trade represents a 23.89% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company insiders.

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.