Geneva Capital Management LLC Grows Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC grew its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,195,891 shares of the technology company’s stock after purchasing an additional 135,103 shares during the quarter. Blackbaud makes up about 1.6% of Geneva Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Geneva Capital Management LLC owned 2.32% of Blackbaud worth $88,663,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Blackbaud during the fourth quarter worth approximately $43,589,000. Public Employees Retirement Association of Colorado boosted its holdings in Blackbaud by 1,371.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock valued at $29,486,000 after acquiring an additional 316,992 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Blackbaud during the fourth quarter valued at about $23,010,000. American Century Companies Inc. increased its stake in Blackbaud by 499.1% during the third quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock worth $21,661,000 after acquiring an additional 256,619 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Blackbaud by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after purchasing an additional 77,348 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $2.06 on Thursday, reaching $77.04. 144,695 shares of the company’s stock were exchanged, compared to its average volume of 257,064. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The business’s 50-day moving average is $77.27 and its two-hundred day moving average is $77.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 186.18 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $279.25 million for the quarter, compared to analysts’ expectations of $282.22 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. As a group, equities research analysts forecast that Blackbaud, Inc. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anthony W. Boor sold 6,900 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.01, for a total value of $545,169.00. Following the completion of the transaction, the chief financial officer now owns 151,368 shares in the company, valued at approximately $11,959,585.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $77.50, for a total transaction of $137,020.00. Following the completion of the transaction, the executive vice president now owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony W. Boor sold 6,900 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares in the company, valued at $11,959,585.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,368 shares of company stock worth $2,217,506. 1.95% of the stock is owned by company insiders.

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.