Blackbaud, Inc. $BLKB Shares Sold by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD decreased its position in Blackbaud, Inc. (NASDAQ:BLKB) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,679 shares of the technology company’s stock after selling 42,787 shares during the quarter. Corbyn Investment Management Inc. MD owned 0.11% of Blackbaud worth $2,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BLKB. Salomon & Ludwin LLC lifted its stake in Blackbaud by 162.5% during the third quarter. Salomon & Ludwin LLC now owns 693 shares of the technology company’s stock worth $29,000 after purchasing an additional 429 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Blackbaud in the first quarter valued at about $29,000. Parallel Advisors LLC increased its position in shares of Blackbaud by 528.0% in the first quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock valued at $30,000 after buying an additional 660 shares in the last quarter. Performa Ltd US LLC grew its holdings in Blackbaud by 337.5% during the 2nd quarter. Performa Ltd US LLC now owns 875 shares of the technology company’s stock valued at $26,000 after buying an additional 675 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Blackbaud by 107.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 959 shares of the technology company’s stock valued at $28,000 after purchasing an additional 496 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Trading Up 3.4%

Shares of NASDAQ:BLKB opened at $56.06 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 8.55. Blackbaud, Inc. has a 12-month low of $25.58 and a 12-month high of $64.84. The firm has a fifty day moving average of $47.63 and a two-hundred day moving average of $41.42. The firm has a market capitalization of $2.52 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 28th. The technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. The firm had revenue of $292.64 million during the quarter, compared to analyst estimates of $293.93 million. During the same quarter in the previous year, the business earned $1.10 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Blackbaud, Inc. will post 3.74 EPS for the current fiscal year.

Analyst Ratings Changes

BLKB has been the topic of several recent analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $55.00 price objective on shares of Blackbaud in a report on Wednesday, July 29th. Robert W. Baird set a $68.00 target price on Blackbaud in a research note on Thursday, October 29th. Stifel Nicolaus lowered their price objective on Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings upgraded Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.00.

Insiders Place Their Bets

In other Blackbaud news, EVP David Benjamin sold 2,086 shares of Blackbaud stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $48.27, for a total transaction of $100,691.22. Following the sale, the executive vice president directly owned 71,038 shares of the company’s stock, valued at approximately $3,429,004.26. The trade was a 2.85% 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. Also, CEO Michael Gianoni sold 17,000 shares of Blackbaud stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $47.35, for a total value of $804,950.00. Following the transaction, the chief executive officer directly owned 423,264 shares of the company’s stock, valued at approximately $20,041,550.40. The trade was a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,086 shares of company stock worth $1,000,761 over the last quarter. Company insiders own 2.01% of the company’s stock.

Blackbaud Profile

Blackbaud, Inc (NASDAQ: BLKB) develops cloud-based software and services for nonprofit organizations, educational institutions, healthcare and other social-impact organizations. Its technology helps customers manage fundraising, donor relationships, financial operations, grantmaking, marketing, ticketing, payments and community engagement.

The company’s product portfolio includes solutions such as Raiser’s Edge NXT for nonprofit fundraising and constituent relationship management, Financial Edge NXT for nonprofit accounting, Luminate for online fundraising and advocacy, Grantmaking, Blackbaud Tuition Management, and Altru for cultural organizations.