Calamos Advisors LLC Purchases 45,483 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Calamos Advisors LLC grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 49.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,734 shares of the technology company's stock after purchasing an additional 45,483 shares during the period. Calamos Advisors LLC owned approximately 0.28% of Blackbaud worth $8,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BLKB. Bank of New York Mellon Corp increased its position 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 worth $35,671,000 after buying an additional 140,273 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Blackbaud by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company's stock worth $30,505,000 after buying an additional 2,298 shares during the last quarter. Victory Capital Management Inc. increased its position in Blackbaud by 3.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company's stock worth $1,094,000 after buying an additional 519 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Blackbaud in the fourth quarter valued at about $6,546,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Blackbaud by 18.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,875 shares of the technology company's stock valued at $804,000 after purchasing an additional 1,676 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

BLKB stock traded down $0.17 during trading on Wednesday, reaching $65.84. 64,889 shares of the stock were exchanged, compared to its average volume of 246,322. The company has a market capitalization of $3.19 billion, a P/E ratio of -11.16, a price-to-earnings-growth ratio of 4.86 and a beta of 1.14. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 35.64. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The stock has a 50 day simple moving average of $62.97 and a 200-day simple moving average of $67.17.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results 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 25.05% and a positive return on equity of 38.58%. The firm had revenue of $270.66 million during the quarter, compared to analysts' expectations of $268.53 million. During the same quarter last year, the company earned $0.93 earnings per share. The company's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Blackbaud

In related news, CFO Chad Anderson sold 5,500 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the sale, the chief financial officer directly owned 35,976 shares in the company, valued at approximately $2,302,104.24. This trade represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of the 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 completion of the transaction, the senior vice president directly owned 23,799 shares in the company, valued at approximately $1,455,308.85. This represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price target on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.