Van Berkom & Associates Inc. Buys 10,203 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Van Berkom & Associates Inc. increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 657,419 shares of the technology company’s stock after acquiring an additional 10,203 shares during the period. Van Berkom & Associates Inc. owned about 1.27% of Blackbaud worth $50,076,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BLKB. DT Investment Partners LLC bought a new stake in shares of Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC increased its holdings 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. YHB Investment Advisors Inc. bought a new stake in Blackbaud during the first quarter worth $54,000. Parallel Advisors LLC lifted its stake in Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares during the last quarter. Finally, AXS Investments LLC bought a new position in shares of Blackbaud in the 4th quarter valued at about $181,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BLKB shares. Robert W. Baird raised their target price on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI raised Blackbaud to a “hold” rating in a research report on Thursday, August 1st.

Blackbaud Stock Performance

Shares of BLKB stock traded down $0.12 during midday trading on Monday, hitting $81.35. 4,080 shares of the company were exchanged, compared to its average volume of 243,636. The firm has a market capitalization of $4.20 billion, a P/E ratio of 198.71 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The firm’s 50 day moving average price is $78.35 and its two-hundred day moving average price is $76.38.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares of the company’s stock, valued at approximately $2,251,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Kevin P. Gregoire sold 7,333 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $77.65, for a total transaction of $569,407.45. Following the sale, the chief operating officer now directly owns 110,715 shares of the company’s stock, valued at approximately $8,597,019.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,628 shares of the company’s stock, valued at approximately $2,251,728. The disclosure for this sale can be found here. Insiders have sold 47,938 shares of company stock worth $3,847,373 in the last 90 days. Company insiders own 1.95% of the company’s stock.

About Blackbaud

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.