Resona Asset Management Co. Ltd. Increases Position in Blackbaud, Inc. $BLKB

Resona Asset Management Co. Ltd. lifted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 24.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,442 shares of the technology company’s stock after buying an additional 1,486 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Blackbaud were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its holdings in Blackbaud by 1.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after acquiring an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Blackbaud by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock worth $143,000 after purchasing an additional 231 shares during the last quarter. Aristides Capital LLC lifted its position in shares of Blackbaud by 7.8% during the first quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock worth $257,000 after purchasing an additional 298 shares during the last quarter. CWM LLC boosted its stake in shares of Blackbaud by 215.9% during the second quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Blackbaud by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 361 shares during the last quarter. 94.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.68, for a total transaction of $288,400.00. Following the sale, the chief executive officer owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BLKB shares. Wall Street Zen upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Stifel Nicolaus set a $70.00 price target on Blackbaud in a report on Wednesday, October 29th. Finally, Zacks Research upgraded Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Blackbaud Trading Up 0.1%

NASDAQ:BLKB opened at $58.78 on Wednesday. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.84 and a current ratio of 0.69. The firm has a 50-day simple moving average of $64.58 and a 200-day simple moving average of $64.07. Blackbaud, Inc. has a one year low of $56.22 and a one year high of $88.95. The firm has a market cap of $2.81 billion, a P/E ratio of -11.30, a P/E/G ratio of 4.75 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. Equities analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

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.