Ameriprise Financial Inc. Sells 5,408 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Ameriprise Financial Inc. lessened its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,323 shares of the technology company's stock after selling 5,408 shares during the period. Ameriprise Financial Inc. owned 0.41% of Blackbaud worth $15,030,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BLKB. Entropy Technologies LP acquired a new position in Blackbaud during the fourth quarter worth $377,000. Tributary Capital Management LLC raised its holdings in shares of Blackbaud by 1.3% in the fourth 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 last quarter. Cibc World Markets Corp purchased a new stake in shares of Blackbaud in the fourth quarter valued at about $280,000. Blue Trust Inc. raised its holdings in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after purchasing an additional 333 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 valued at $35,671,000 after buying an additional 140,273 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BLKB shares. Robert W. Baird reduced 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 dropped their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company 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. According to data from MarketBeat.com, Blackbaud has an average rating of "Hold" and a consensus price target of $78.67.

Insider Buying and Selling at Blackbaud

In related news, SVP Jon W. Olson sold 10,698 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was 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 now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Chad Anderson sold 5,500 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.99, for a total transaction of $351,945.00. Following the completion of the transaction, the chief financial officer now owns 35,976 shares in the company, valued at approximately $2,302,104.24. The trade was a 13.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

Shares of BLKB stock traded down $0.56 during trading hours on Friday, hitting $61.12. 137,842 shares of the company's stock were exchanged, compared to its average volume of 240,530. 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, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The business's 50 day simple moving average is $62.39 and its 200-day simple moving average is $71.50. The company has a market capitalization of $2.97 billion, a PE ratio of -10.36 and a beta of 1.16.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current 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.