Inspire Investing LLC Has $393,000 Stock Position in Blackbaud, Inc. $BLKB

Inspire Investing LLC grew its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 10.9% in the second quarter, HoldingsChannel reports. The fund owned 6,113 shares of the technology company’s stock after acquiring an additional 603 shares during the period. Inspire Investing LLC’s holdings in Blackbaud were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Greenhouse Funds LLLP bought a new position in shares of Blackbaud in the first quarter worth about $31,217,000. Charles Schwab Investment Management Inc. raised its stake in shares of Blackbaud by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,173 shares of the technology company’s stock worth $27,685,000 after acquiring an additional 33,500 shares during the last quarter. Nuveen LLC bought a new position in shares of Blackbaud in the first quarter worth about $25,302,000. Clearline Capital LP bought a new position in shares of Blackbaud in the first quarter worth about $19,052,000. Finally, New York State Common Retirement Fund raised its stake in shares of Blackbaud by 6.2% in the first quarter. New York State Common Retirement Fund now owns 299,632 shares of the technology company’s stock worth $18,592,000 after acquiring an additional 17,382 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLKB. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Stifel Nicolaus dropped their target price on shares of Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $70.50.

Blackbaud Trading Up 0.4%

BLKB opened at $63.62 on Tuesday. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -11.01, a price-to-earnings-growth ratio of 4.43 and a beta of 1.11. The firm has a 50 day simple moving average of $65.27 and a 200 day simple moving average of $63.89. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. The business had revenue of $274.76 million during the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kevin P. Gregoire sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the completion of the transaction, the executive vice president owned 111,156 shares in the company, valued at approximately $8,077,706.52. The trade was a 6.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the transaction, the director owned 7,966 shares of the company’s stock, valued at approximately $509,664.68. This represents a 23.89% decrease in their position. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.

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.