Blackbaud, Inc. (NASDAQ:BLKB) Shares Bought by Tributary Capital Management LLC

Tributary Capital Management LLC lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 293,148 shares of the technology company’s stock after acquiring an additional 3,739 shares during the period. Blackbaud accounts for 1.7% of Tributary Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Tributary Capital Management LLC owned about 0.60% of Blackbaud worth $21,670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BLKB. Inspire Investing LLC increased its stake in shares of Blackbaud by 11.6% in the fourth quarter. Inspire Investing LLC now owns 5,445 shares of the technology company’s stock valued at $402,000 after purchasing an additional 566 shares during the period. Heritage Family Offices LLP raised its stake in Blackbaud by 5.9% during the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after acquiring an additional 166 shares in the last quarter. Brookstone Capital Management boosted its position in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after acquiring an additional 275 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Blackbaud by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock valued at $19,107,000 after purchasing an additional 7,097 shares during the period. Finally, 272 Capital LP bought a new stake in shares of Blackbaud during the third quarter valued at about $872,000. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BLKB has been the topic of several research analyst reports. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Finally, Raymond James dropped their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.67.

Blackbaud Price Performance

NASDAQ BLKB opened at $76.26 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. The stock has a market capitalization of $3.76 billion, a P/E ratio of 74.77 and a beta of 1.08. The business’s fifty day moving average is $78.65 and its two-hundred day moving average is $80.31. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In other news, CFO Anthony W. Boor sold 10,000 shares of Blackbaud stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. The trade was a 6.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the sale, the director now owns 23,723 shares of the company’s stock, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is owned by corporate 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.