Blackbaud, Inc. (NASDAQ:BLKB) Holdings Trimmed by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lowered its position in shares of Blackbaud, Inc. (NASDAQ:BLKBGet Rating) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,039 shares of the technology company’s stock after selling 770 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Blackbaud were worth $1,030,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Blackbaud by 230.0% during the 1st quarter. FMR LLC now owns 538,047 shares of the technology company’s stock valued at $42,898,000 after acquiring an additional 374,999 shares during the last quarter. First Trust Advisors LP acquired a new position in Blackbaud in the first quarter valued at about $488,000. Deutsche Bank AG grew its stake in Blackbaud by 2.2% in the third quarter. Deutsche Bank AG now owns 42,830 shares of the technology company’s stock valued at $3,013,000 after acquiring an additional 936 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Blackbaud by 2.9% in the third quarter. PNC Financial Services Group Inc. now owns 7,391 shares of the technology company’s stock valued at $519,000 after purchasing an additional 208 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Blackbaud by 6.7% in the third quarter. Advisor Group Holdings Inc. now owns 14,989 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 937 shares in the last quarter. 95.57% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Jon W. Olson sold 4,580 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $60.26, for a total transaction of $275,990.80. Following the completion of the transaction, the senior vice president now directly owns 55,902 shares in the company, valued at approximately $3,368,654.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $63.06, for a total transaction of $189,180.00. The disclosure for this sale can be found here. Insiders sold a total of 23,239 shares of company stock valued at $1,370,728 over the last quarter. 1.33% of the stock is owned by company insiders.

BLKB has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Blackbaud from $85.00 to $70.00 in a research note on Thursday, February 24th. Stifel Nicolaus cut their target price on Blackbaud from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, February 23rd. StockNews.com began coverage on Blackbaud in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating and set a $59.00 price target for the company. in a research note on Tuesday, April 12th. Finally, TheStreet cut Blackbaud from a “c” rating to a “d+” rating in a research note on Monday, February 28th.

BLKB stock traded up $3.24 during mid-day trading on Friday, reaching $54.33. 293,025 shares of the company traded hands, compared to its average volume of 301,222. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -679.04, a P/E/G ratio of 11.32 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 0.67 and a debt-to-equity ratio of 1.37. Blackbaud, Inc. has a fifty-two week low of $48.52 and a fifty-two week high of $86.96. The firm’s 50 day moving average price is $57.85 and its 200 day moving average price is $67.83.

Blackbaud (NASDAQ:BLKBGet Rating) last posted its earnings results on Tuesday, May 3rd. The technology company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $257.12 million for the quarter, compared to the consensus estimate of $253.10 million. Blackbaud had a positive return on equity of 8.94% and a negative net margin of 0.47%. Blackbaud’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. On average, analysts anticipate that Blackbaud, Inc. will post 0.78 EPS for the current fiscal year.

About Blackbaud (Get Rating)

Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.

Further Reading

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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