Balyasny Asset Management L.P. Invests $948,000 in Blackbaud, Inc. (NASDAQ:BLKB)

Balyasny Asset Management L.P. acquired a new stake 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 acquired 12,825 shares of the technology company's stock, valued at approximately $948,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in shares of Blackbaud during the 4th quarter valued at $377,000. Tributary Capital Management LLC raised its position in shares of Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock valued at $21,670,000 after purchasing an additional 3,739 shares during the period. Cibc World Markets Corp purchased a new position in Blackbaud during the fourth quarter valued at $280,000. Blue Trust Inc. grew its stake in Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after acquiring an additional 333 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after acquiring an additional 140,273 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the transaction, the senior vice president now directly owns 23,799 shares of the company's stock, valued at $1,455,308.85. This trade represents a 31.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BLKB shares. Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus cut their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Blackbaud currently has an average rating of "Hold" and a consensus price target of $78.67.

Blackbaud Price Performance

BLKB traded up $0.64 during trading on Friday, hitting $64.46. 218,201 shares of the company traded hands, compared to its average volume of 240,978. Blackbaud, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The company has a market cap of $3.13 billion, a PE ratio of -10.93 and a beta of 1.16. The stock's 50-day simple moving average is $62.54 and its two-hundred day simple moving average is $71.97. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The business had revenue of $270.66 million during the quarter, compared to analysts' expectations of $268.53 million. During the same period last year, the company posted $0.93 EPS. The business's revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

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.