Allspring Global Investments Holdings LLC Sells 6,173 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,885 shares of the technology company’s stock after selling 6,173 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.64% of Blackbaud worth $23,202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares during the last quarter. KBC Group NV raised its position in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Blackbaud in the third quarter worth $142,000. Finally, Heritage Family Offices LLP increased its stake in Blackbaud by 5.9% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Down 1.1 %

Shares of BLKB stock opened at $79.88 on Friday. The business has a 50-day moving average of $77.03 and a 200 day moving average of $80.39. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.95. The stock has a market capitalization of $3.93 billion, a PE ratio of 78.31 and a beta of 1.08.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 800 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $83.15, for a total transaction of $66,520.00. Following the completion of the sale, the chief executive officer now owns 373,293 shares of the company’s stock, valued at $31,039,312.95. This represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares in the company, valued at $11,901,230.70. The trade was a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,204 shares of company stock worth $2,909,997. 1.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLKB. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird lowered 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 note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.67.

Blackbaud Profile

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.