Allspring Global Investments Holdings LLC Increases Stake in Blackbaud, Inc. $BLKB

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Blackbaud, Inc. by 1.8%, owning 260,909 shares valued at approximately $16.75 million as of its latest SEC filing.
• Various institutional investors, including CWM LLC and Farther Finance Advisors LLC, significantly raised their positions in Blackbaud during the second quarter, indicating a growing interest in the company's stock.
• Brokerage analysts have mixed opinions on Blackbaud, with Wall Street Zen upgrading its rating to "buy," while others set a "hold" rating and revised the target price down from $75 to $65.

Allspring Global Investments Holdings LLC raised its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,909 shares of the technology company's stock after purchasing an additional 4,602 shares during the period. Allspring Global Investments Holdings LLC owned 0.54% of Blackbaud worth $16,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CWM LLC increased its position in shares of Blackbaud by 215.9% in the 2nd quarter. CWM LLC now owns 458 shares of the technology company's stock valued at $29,000 after purchasing an additional 313 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $44,000. Farther Finance Advisors LLC increased its position in shares of Blackbaud by 2,168.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company's stock valued at $87,000 after purchasing an additional 1,301 shares during the last quarter. KBC Group NV increased its position in shares of Blackbaud by 31.8% in the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock valued at $137,000 after purchasing an additional 533 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Blackbaud by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company's stock valued at $143,000 after purchasing an additional 231 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kevin P. Gregoire sold 8,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the sale, the executive vice president directly owned 111,156 shares of the company's stock, valued at $8,077,706.52. This represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares of the company's stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BLKB. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stifel Nicolaus lowered their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Blackbaud in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $70.50.

Blackbaud Stock Up 1.0%

BLKB stock opened at $63.04 on Friday. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The stock has a market capitalization of $3.06 billion, a PE ratio of -10.91, a price-to-earnings-growth ratio of 4.36 and a beta of 1.11. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $65.20 and a 200-day moving average of $63.88.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The business had revenue of $274.76 million during the quarter. As a group, analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current 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.

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