American Capital Management Inc. Sells 16,828 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

American Capital Management Inc. cut its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 429,377 shares of the technology company’s stock after selling 16,828 shares during the quarter. American Capital Management Inc. owned 0.85% of Blackbaud worth $36,360,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. DT Investment Partners LLC acquired a new position in Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC lifted its position 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 purchasing an additional 413 shares in the last quarter. Blue Trust Inc. boosted its holdings in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Blackbaud in the third quarter valued at $142,000. Finally, Legacy Capital Wealth Partners LLC bought a new position in Blackbaud in the second quarter valued at $201,000. 94.21% of the stock is currently owned by institutional investors.

Insider Transactions at Blackbaud

In related news, CFO Anthony W. Boor sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the transaction, the chief financial officer now directly owns 140,262 shares in the company, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Gianoni sold 800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the transaction, the chief executive officer now directly owns 373,293 shares in the company, valued at approximately $31,039,312.95. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,394 shares of company stock worth $4,373,270. Company insiders own 1.95% of the company’s stock.

Wall Street Analysts Forecast Growth

BLKB has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock 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 report on Thursday, October 31st. Robert W. Baird downgraded 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. Finally, Raymond James lowered their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and a consensus price target of $86.67.

Blackbaud Trading Down 0.3 %

Shares of NASDAQ:BLKB opened at $83.94 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95. The company has a 50-day simple moving average of $83.65 and a 200 day simple moving average of $80.36. The company has a market capitalization of $4.26 billion, a P/E ratio of 82.29 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last posted its earnings results 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 company had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. Sell-side analysts forecast that Blackbaud, Inc. will post 2.6 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.