Man Group plc Sells 5,855 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Man Group plc reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,928 shares of the technology company's stock after selling 5,855 shares during the period. Man Group plc's holdings in Blackbaud were worth $882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLKB. Janus Henderson Group PLC boosted its holdings in Blackbaud by 1.2% in the fourth quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company's stock worth $213,263,000 after purchasing an additional 34,600 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Blackbaud by 3.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company's stock valued at $98,262,000 after buying an additional 45,835 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Blackbaud by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock worth $75,393,000 after acquiring an additional 3,119 shares during the period. Northern Trust Corp raised its position in shares of Blackbaud by 9.1% during the 4th quarter. Northern Trust Corp now owns 693,577 shares of the technology company's stock worth $51,269,000 after purchasing an additional 57,941 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 140,273 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Stock Up 1.8%

NASDAQ BLKB traded up $1.09 during trading on Tuesday, reaching $62.21. 227,164 shares of the company's stock were exchanged, compared to its average volume of 240,581. 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 fifty-two week low of $58.05 and a fifty-two week high of $88.95. The company's fifty day simple moving average is $62.32 and its 200-day simple moving average is $71.18. The firm has a market capitalization of $3.02 billion, a PE ratio of -10.54 and a beta of 1.16.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $270.66 million during the quarter, compared to analyst estimates of $268.53 million. During the same period in the previous year, the company earned $0.93 EPS. The firm's revenue was down 3.1% on a year-over-year basis. Sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BLKB. Robert W. Baird decreased their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus lowered their price objective 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackbaud has an average rating of "Hold" and a consensus target price of $78.67.

Insider Activity at Blackbaud

In other news, SVP Jon W. Olson sold 10,698 shares of the business'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 sale, the senior vice president now directly owns 23,799 shares in the company, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Chad Anderson sold 5,500 shares of the stock in a transaction on Friday, May 16th. The shares were 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 of the company's stock, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by company insiders.

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.