Grandfield & Dodd LLC Cuts Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Grandfield & Dodd LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 36.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,868 shares of the technology company’s stock after selling 26,200 shares during the quarter. Grandfield & Dodd LLC owned 0.09% of Blackbaud worth $3,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Blackbaud by 1.2% in the third quarter. Public Employees Retirement System of Ohio now owns 93,391 shares of the technology company’s stock valued at $6,567,000 after buying an additional 1,103 shares in the last quarter. American Century Companies Inc. increased its position in shares of Blackbaud by 499.1% during the third quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock worth $21,661,000 after purchasing an additional 256,619 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Blackbaud by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock worth $390,336,000 after purchasing an additional 70,115 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Blackbaud by 217.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,935 shares of the technology company’s stock worth $2,162,000 after purchasing an additional 17,086 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Blackbaud by 5.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock worth $19,633,000 after purchasing an additional 12,881 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Trading Up 2.7 %

NASDAQ BLKB traded up $2.06 on Thursday, reaching $77.04. 144,695 shares of the company were exchanged, compared to its average volume of 257,064. The business’s fifty day moving average price is $77.29 and its 200 day moving average price is $77.07. The stock has a market capitalization of $3.98 billion, a P/E ratio of 187.91 and a beta of 1.01. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $279.25 million for the quarter, compared to analyst estimates of $282.22 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. Analysts forecast that Blackbaud, Inc. will post 2.27 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.63, for a total transaction of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares of the company’s stock, valued at $2,644,169.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jon W. Olson sold 3,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.63, for a total value of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares of the company’s stock, valued at approximately $2,644,169.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David J. Benjamin sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total value of $1,299,427.00. Following the completion of the transaction, the executive vice president now directly owns 74,458 shares in the company, valued at approximately $5,793,576.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,368 shares of company stock valued at $2,217,506. Insiders own 1.95% of the company’s stock.

Blackbaud Company 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.