Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC trimmed its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,060,788 shares of the technology company’s stock after selling 1,300 shares during the period. Blackbaud comprises 1.7% of Geneva Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Geneva Capital Management LLC owned 1.97% of Blackbaud worth $91,970,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 valued at $390,336,000 after purchasing an additional 70,115 shares during the period. Morgan Stanley raised its stake in shares of Blackbaud by 1.7% during the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after purchasing an additional 72,071 shares during the period. Hawk Ridge Capital Management LP raised its stake in shares of Blackbaud by 15.6% during the third quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after purchasing an additional 200,000 shares during the period. Van Berkom & Associates Inc. raised its stake in shares of Blackbaud by 11.8% during the third quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after purchasing an additional 86,952 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Blackbaud by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,200 shares of the technology company’s stock worth $35,651,000 after buying an additional 3,670 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB traded up $0.40 during midday trading on Thursday, hitting $77.66. 163,173 shares of the stock traded hands, compared to its average volume of 273,520. Blackbaud, Inc. has a 1-year low of $64.32 and a 1-year high of $88.56. The firm has a market capitalization of $4.01 billion, a PE ratio of 188.78 and a beta of 1.01. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.67 and a current ratio of 0.67. The business’s 50 day moving average price is $74.37 and its two-hundred day moving average price is $76.90.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. The company had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Blackbaud, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird dropped their price target on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the sale, the chief executive officer now owns 357,104 shares of the company’s stock, valued at $24,558,042.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the sale, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Gianoni sold 5,799 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.02, for a total transaction of $429,241.98. Following the completion of the sale, the chief executive officer now owns 402,060 shares in the company, valued at $29,760,481.20. The disclosure for this sale can be found here. Insiders sold 59,897 shares of company stock valued at $4,377,015 over the last 90 days. 1.89% of the stock is currently owned by company insiders.

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.