AlphaQuest LLC Has $1.46 Million Stock Position in Blackbaud, Inc. $BLKB

AlphaQuest LLC increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 401.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,776 shares of the technology company’s stock after buying an additional 18,231 shares during the quarter. AlphaQuest LLC’s holdings in Blackbaud were worth $1,462,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BLKB. Goodman Advisory Group LLC acquired a new position in Blackbaud during the 1st quarter worth approximately $4,630,000. KBC Group NV raised its stake in Blackbaud by 31.8% during the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company’s stock worth $137,000 after buying an additional 533 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Blackbaud by 21.8% in the first quarter. Teacher Retirement System of Texas now owns 5,938 shares of the technology company’s stock worth $368,000 after purchasing an additional 1,063 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of Blackbaud by 49.8% in the first quarter. Calamos Advisors LLC now owns 136,734 shares of the technology company’s stock valued at $8,484,000 after purchasing an additional 45,483 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Blackbaud by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock valued at $8,131,000 after purchasing an additional 2,582 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackbaud news, Director Rupal S. Hollenbeck sold 2,500 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the sale, the director directly owned 7,966 shares of the company’s stock, valued at $509,664.68. This trade represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin P. Gregoire sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total value of $581,360.00. Following the completion of the sale, the executive vice president directly owned 111,156 shares of the company’s stock, valued at $8,077,706.52. This represents a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $65.18 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 12.92. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -11.28, a PEG ratio of 4.52 and a beta of 1.11. The stock has a 50 day moving average of $65.44 and a 200 day moving average of $63.99. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95.

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

Wall Street Analyst Weigh In

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

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.