Jackson Creek Investment Advisors LLC Takes $1.08 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,439 shares of the technology company’s stock, valued at approximately $1,078,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLKB. Public Employees Retirement System of Ohio grew 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 purchasing an additional 1,103 shares during the last quarter. American Century Companies Inc. grew its holdings in Blackbaud by 499.1% in the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after buying an additional 256,619 shares during the last quarter. Nordea Investment Management AB grew its holdings in Blackbaud by 16.2% in the 3rd quarter. Nordea Investment Management AB now owns 74,990 shares of the technology company’s stock valued at $5,325,000 after buying an additional 10,473 shares during the last quarter. Vanguard Group Inc. increased its position in Blackbaud by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock worth $390,336,000 after buying an additional 70,115 shares during the period. Finally, Morgan Stanley boosted its position in shares of Blackbaud by 1.7% in the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after acquiring an additional 72,071 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares in the company, valued at approximately $24,558,042.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the transaction, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony W. Boor sold 429 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.00, for a total value of $31,746.00. Following the completion of the transaction, the chief financial officer now owns 161,368 shares in the company, valued at approximately $11,941,232. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,897 shares of company stock worth $4,377,015. Company insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Blackbaud Stock Performance

Shares of BLKB traded down $0.98 on Tuesday, reaching $77.92. 343,555 shares of the stock traded hands, compared to its average volume of 275,987. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 2,597.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50-day moving average price is $73.20 and its 200-day moving average price is $76.54. Blackbaud, Inc. has a 12 month low of $64.32 and a 12 month high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

About Blackbaud

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.