272 Capital LP Invests $872,000 in Blackbaud, Inc. (NASDAQ:BLKB)

272 Capital LP bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,297 shares of the technology company’s stock, valued at approximately $872,000.

Other large investors have also recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC grew its holdings in Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after buying an additional 235,859 shares during the period. Wellington Management Group LLP grew its holdings in Blackbaud by 56.0% in the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares during the period. Simcoe Capital Management LLC purchased a new stake in Blackbaud in the third quarter valued at approximately $5,987,000. Kestrel Investment Management Corp acquired a new position in Blackbaud during the second quarter worth approximately $4,795,000. Finally, Millennium Management LLC raised its stake in Blackbaud by 2,240.8% during the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after purchasing an additional 60,702 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLKB has been the subject of several research reports. Stifel Nicolaus boosted their price objective 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. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Raymond James cut their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Four equities 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, the stock has an average rating of “Hold” and a consensus target price of $86.67.

Insider Activity

In other news, Director Sarah E. Nash sold 1,600 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $83.46, for a total transaction of $133,536.00. Following the transaction, the director now owns 22,123 shares of the company’s stock, valued at approximately $1,846,385.58. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.15, for a total value of $66,520.00. Following the completion of the transaction, the chief executive officer now owns 373,293 shares of the company’s stock, valued at approximately $31,039,312.95. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,394 shares of company stock worth $4,373,270. 1.95% of the stock is currently owned by company insiders.

Blackbaud Trading Down 1.1 %

NASDAQ:BLKB opened at $80.26 on Friday. The business’s 50-day moving average is $83.15 and its two-hundred day moving average is $80.48. The firm has a market capitalization of $4.07 billion, a PE ratio of 78.69 and a beta of 1.06. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. 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 released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the firm posted $0.65 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that Blackbaud, Inc. will post 2.6 earnings per share 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.