12,825 Shares in Blackbaud, Inc. (NASDAQ:BLKB) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 12,825 shares of the technology company's stock, valued at approximately $948,000.

Other hedge funds have also recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC grew its stake in shares of Blackbaud by 3.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company's stock valued at $98,262,000 after buying an additional 45,835 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Blackbaud during the fourth quarter worth $244,000. Northern Trust Corp raised its position in Blackbaud by 9.1% during the fourth quarter. Northern Trust Corp now owns 693,577 shares of the technology company's stock worth $51,269,000 after acquiring an additional 57,941 shares in the last quarter. Oxford Asset Management LLP bought a new stake in Blackbaud during the fourth quarter worth $601,000. Finally, Credit Industriel ET Commercial bought a new stake in Blackbaud during the fourth quarter worth $580,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $61.15, for a total transaction of $654,182.70. Following the sale, the senior vice president now directly owns 23,799 shares of the company's stock, valued at $1,455,308.85. This represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.95% of the company's stock.

Blackbaud Stock Performance

Shares of Blackbaud stock traded down $0.14 during trading on Tuesday, reaching $63.72. The company's stock had a trading volume of 12,393 shares, compared to its average volume of 297,517. The business's 50-day moving average price is $62.52 and its 200-day moving average price is $71.85. The firm has a market cap of $3.09 billion, a PE ratio of -10.80 and a beta of 1.16. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.06. The company had revenue of $270.66 million for the quarter, compared to the consensus estimate of $268.53 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. Equities analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird dropped their price target on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $78.67.

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.