D. E. Shaw & Co. Inc. Buys 12,189 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

D. E. Shaw & Co. Inc. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 163.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,637 shares of the technology company's stock after buying an additional 12,189 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Blackbaud were worth $1,452,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Blackbaud during the 4th quarter valued at $34,168,000. Penn Capital Management Company LLC acquired a new position in shares of Blackbaud during the 4th quarter worth about $10,581,000. Bank of New York Mellon Corp increased its stake in shares of Blackbaud by 41.0% in the 4th 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 last quarter. New York State Common Retirement Fund raised its position in shares of Blackbaud by 63.5% in the 4th quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company's stock valued at $20,864,000 after acquiring an additional 109,630 shares during the period. Finally, JPMorgan Chase & Co. boosted 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 worth $24,071,000 after acquiring an additional 100,003 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Down 0.8%

Shares of BLKB traded down $0.47 during mid-day trading on Wednesday, hitting $61.74. 11,884 shares of the company's stock were exchanged, compared to its average volume of 239,680. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a market cap of $3.00 billion, a PE ratio of -10.46 and a beta of 1.16. The company has a 50-day simple moving average of $62.29 and a 200 day simple moving average of $71.11.

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

Insider Activity at Blackbaud

In other news, 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 transaction of $351,945.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction that occurred on 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 now directly owns 23,799 shares in the company, valued at $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird reduced their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus cut their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $78.67.

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.