Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,557 shares of the technology company’s stock after selling 1,571 shares during the quarter. ClariVest Asset Management LLC owned 0.07% of Blackbaud worth $2,556,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in Blackbaud during the 2nd quarter valued at $33,000. Quest Partners LLC increased its stake in shares of Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after acquiring an additional 413 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Blackbaud in the first quarter worth $54,000. Parallel Advisors LLC increased its stake in shares of Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after acquiring an additional 552 shares during the last quarter. Finally, AXS Investments LLC acquired a new position in shares of Blackbaud in the fourth quarter worth $181,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the transaction, the senior vice president now directly owns 29,628 shares in the company, valued at $2,251,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Jon W. Olson sold 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the sale, the senior vice president now directly 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 available at the SEC website. Also, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $76.18, for a total value of $245,299.60. Following the completion of the transaction, the director now directly owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,938 shares of company stock worth $3,847,373. Corporate insiders own 1.95% of the company’s stock.

Blackbaud Stock Up 0.0 %

BLKB stock opened at $81.67 on Wednesday. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a market cap of $4.22 billion, a PE ratio of 199.20 and a beta of 1.02. The business’s 50-day simple moving average is $78.58 and its 200 day simple moving average is $76.57. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

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

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.