Russell Investments Group Ltd. Cuts Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Russell Investments Group Ltd. decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,482 shares of the technology company’s stock after selling 748 shares during the period. Russell Investments Group Ltd.’s holdings in Blackbaud were worth $419,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blume Capital Management Inc. purchased a new stake in shares of Blackbaud in the 1st quarter valued at $25,000. First Horizon Advisors Inc. bought a new stake in Blackbaud during the 1st quarter valued at $29,000. Logan Capital Management Inc. bought a new stake in Blackbaud during the 1st quarter valued at $85,000. FORA Capital LLC bought a new stake in Blackbaud during the 1st quarter valued at $86,000. Finally, Captrust Financial Advisors raised its holdings in Blackbaud by 70.1% during the 1st quarter. Captrust Financial Advisors now owns 1,672 shares of the technology company’s stock valued at $119,000 after buying an additional 689 shares during the last quarter. 99.20% of the stock is owned by institutional investors.

In related news, Director Sarah E. Nash sold 1,935 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $67.94, for a total value of $131,463.90. Following the completion of the transaction, the director now directly owns 25,807 shares in the company, valued at approximately $1,753,327.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joyce Nelson sold 2,842 shares of the stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $67.57, for a total transaction of $192,033.94. Following the sale, the director now directly owns 18,333 shares in the company, valued at $1,238,760.81. The disclosure for this sale can be found here. Insiders sold a total of 7,777 shares of company stock valued at $541,778 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Blackbaud from a “strong sell” rating to a “hold” rating and set a $83.00 price target for the company in a report on Tuesday, June 29th.

Shares of NASDAQ BLKB opened at $72.74 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Blackbaud, Inc. has a 12 month low of $46.86 and a 12 month high of $80.00. The firm has a market capitalization of $3.56 billion, a PE ratio of -1,818.50 and a beta of 1.13. The firm has a fifty day simple moving average of $69.39 and a two-hundred day simple moving average of $71.25.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, August 2nd. The technology company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.63. Blackbaud had a negative net margin of 0.24% and a positive return on equity of 13.92%. The business had revenue of $229.44 million during the quarter, compared to analyst estimates of $226.07 million. On average, sell-side analysts predict that Blackbaud, Inc. will post 0.81 earnings per share for the current year.

Blackbaud Profile

Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.

See Also: Hold Rating

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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