Blackbaud, Inc. $BLKB Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 10.1% during the second quarter, HoldingsChannel reports. The firm owned 484,023 shares of the technology company’s stock after buying an additional 44,487 shares during the period. Bank of New York Mellon Corp’s holdings in Blackbaud were worth $31,079,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in Blackbaud by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock valued at $8,131,000 after acquiring an additional 2,582 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Blackbaud by 262.9% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,421 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 11,896 shares during the last quarter. Triodos Investment Management BV increased its holdings in shares of Blackbaud by 17.6% in the second quarter. Triodos Investment Management BV now owns 50,000 shares of the technology company’s stock valued at $3,210,000 after purchasing an additional 7,500 shares during the period. Geneva Capital Management LLC raised its stake in shares of Blackbaud by 6.6% during the second quarter. Geneva Capital Management LLC now owns 1,221,745 shares of the technology company’s stock worth $78,448,000 after purchasing an additional 75,675 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Blackbaud by 2,168.3% during the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,301 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction on 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 directly owned 372,985 shares in the company, valued at approximately $21,513,774.80. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a report on Wednesday, October 29th. Zacks Research raised shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a research report on Wednesday, October 8th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Blackbaud Stock Up 1.1%

BLKB stock opened at $60.28 on Friday. The company has a market cap of $2.88 billion, a P/E ratio of -11.59, a P/E/G ratio of 4.75 and a beta of 1.08. Blackbaud, Inc. has a 52 week low of $56.22 and a 52 week high of $88.95. The company’s 50-day moving average price is $64.32 and its 200 day moving average price is $64.01. The company has a current ratio of 0.69, a quick ratio of 0.84 and a debt-to-equity ratio of 9.63.

Blackbaud (NASDAQ:BLKB) last issued its earnings results 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 during the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. On average, research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share 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.