Greenwood Capital Associates LLC Sells 162 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Greenwood Capital Associates LLC lessened its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,503 shares of the technology company’s stock after selling 162 shares during the period. Greenwood Capital Associates LLC’s holdings in Blackbaud were worth $720,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC raised its stake in Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the last quarter. DT Investment Partners LLC bought a new stake in Blackbaud in the second quarter valued at $33,000. Blue Trust Inc. increased its stake in Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares in the last quarter. EntryPoint Capital LLC increased its stake in Blackbaud by 447.8% in the first quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after purchasing an additional 2,078 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new stake in Blackbaud in the second quarter valued at $201,000. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Up 1.4 %

Shares of NASDAQ BLKB opened at $77.77 on Wednesday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 76.24 and a beta of 1.03. The company has a 50-day moving average price of $83.19 and a 200-day moving average price of $79.55. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, equities research analysts forecast that Blackbaud, Inc. will post 2.45 EPS for the current fiscal year.

Blackbaud declared that its board has authorized a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 18.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on BLKB. Stifel Nicolaus lifted their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Raymond James decreased their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.67.

Insider Buying and Selling

In related news, EVP Kevin Mcdearis sold 2,261 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the transaction, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kevin Mcdearis sold 2,261 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the transaction, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kevin P. Gregoire sold 7,333 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $77.65, for a total transaction of $569,407.45. Following the transaction, the chief operating officer now owns 110,715 shares in the company, valued at approximately $8,597,019.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,409 shares of company stock worth $4,179,193. 1.95% of the stock is owned by insiders.

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.