Geneva Capital Management LLC Has $71.11 Million Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC lessened its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,146,070 shares of the technology company's stock after selling 11,317 shares during the period. Blackbaud comprises 1.3% of Geneva Capital Management LLC's portfolio, making the stock its 25th largest position. Geneva Capital Management LLC owned 2.36% of Blackbaud worth $71,114,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Blackbaud in the 4th quarter worth approximately $34,168,000. Penn Capital Management Company LLC bought a new stake in Blackbaud during the 4th quarter valued at $10,581,000. JPMorgan Chase & Co. raised its stake in Blackbaud by 44.3% during the 4th quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company's stock valued at $24,071,000 after acquiring an additional 100,003 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Blackbaud during the 4th quarter valued at $6,546,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Blackbaud during the 4th quarter valued at $6,077,000. Institutional investors own 94.21% of the company's stock.

Insider Transactions at Blackbaud

In other Blackbaud news, EVP Kevin P. Gregoire sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $72.67, for a total value of $581,360.00. Following the completion of the transaction, the executive vice president owned 111,156 shares of the company's stock, valued at $8,077,706.52. This represents a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Chad Anderson sold 5,500 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 35,976 shares of the company's stock, valued at approximately $2,302,104.24. This trade represents a 13.26% 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

Several analysts have weighed in on BLKB shares. Wall Street Zen raised Blackbaud from a "hold" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Blackbaud has a consensus rating of "Hold" and a consensus target price of $78.67.

Blackbaud Price Performance

Shares of BLKB stock traded down $1.66 during mid-day trading on Tuesday, hitting $63.12. 537,044 shares of the stock traded hands, compared to its average volume of 299,971. 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 firm has a market cap of $3.06 billion, a price-to-earnings ratio of -10.92, a price-to-earnings-growth ratio of 4.61 and a beta of 1.13. The company's 50-day simple moving average is $63.88 and its 200-day simple moving average is $65.75. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.16. Blackbaud had a positive return on equity of 61.72% and a negative net margin of 24.82%. The firm had revenue of $281.38 million for the quarter, compared to the consensus estimate of $276.48 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business's quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current 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.