BNP Paribas Financial Markets Trims Position in Blackbaud, Inc. (NASDAQ:BLKB)

BNP Paribas Financial Markets cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,143 shares of the technology company's stock after selling 9,805 shares during the quarter. BNP Paribas Financial Markets' holdings in Blackbaud were worth $1,045,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC increased its stake in 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 purchasing an additional 45,835 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Blackbaud during the fourth quarter worth about $244,000. Northern Trust Corp increased its stake in shares of 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 during the period. Oxford Asset Management LLP acquired a new position in shares of Blackbaud during the fourth quarter worth about $601,000. Finally, Credit Industriel ET Commercial acquired a new position in shares of Blackbaud during the fourth quarter worth about $580,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of the company'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 sale, the chief financial officer now owns 35,976 shares of the company's stock, valued at $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 23,799 shares in the company, valued at $1,455,308.85. This trade represents a 31.01% decrease in their position. The disclosure for this sale can be found here. 1.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLKB. 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 note 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 note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $78.67.

Blackbaud Price Performance

BLKB stock traded down $0.56 during trading on Monday, reaching $61.12. 137,842 shares of the company were exchanged, compared to its average volume of 240,635. The company has a market cap of $2.97 billion, a P/E ratio of -10.36 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 stock's 50 day moving average price is $62.32 and its 200 day moving average price is $71.18. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released 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. The firm 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 was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Blackbaud Company 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.