Lisanti Capital Growth LLC Has $1.40 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Lisanti Capital Growth LLC decreased its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 47.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,175 shares of the technology company’s stock after selling 14,490 shares during the period. Lisanti Capital Growth LLC’s holdings in Blackbaud were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new stake in Blackbaud during the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in Blackbaud during the fourth quarter worth $64,000. Heritage Wealth Management LLC acquired a new position in Blackbaud in the fourth quarter valued at $208,000. Gotham Asset Management LLC boosted its position in Blackbaud by 8.0% during the third quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock valued at $299,000 after acquiring an additional 316 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in Blackbaud during the 3rd quarter worth about $311,000. 94.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, COO Kevin P. Gregoire sold 3,000 shares of Blackbaud stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the transaction, the chief operating officer now owns 133,641 shares in the company, valued at approximately $9,889,434. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael P. Gianoni sold 25,354 shares of the 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 in the company, valued at $24,558,042.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kevin P. Gregoire sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.00, for a total transaction of $222,000.00. Following the transaction, the chief operating officer now owns 133,641 shares in the company, valued at $9,889,434. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,897 shares of company stock valued at $4,377,015. Corporate insiders own 1.95% of the company’s stock.

Blackbaud Stock Down 0.7 %

Shares of BLKB traded down $0.56 during trading hours on Tuesday, hitting $78.60. The stock had a trading volume of 262,607 shares, compared to its average volume of 275,203. The firm has a 50 day simple moving average of $74.15 and a 200-day simple moving average of $76.83. Blackbaud, Inc. has a 1-year low of $64.32 and a 1-year high of $88.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $4.06 billion, a P/E ratio of 193.08 and a beta of 1.01.

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

Analysts Set New Price Targets

Several research firms recently commented on BLKB. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Robert W. Baird lowered their price objective 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.

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.