Deutsche Bank AG Has $2.93 Million Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Deutsche Bank AG grew its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 57.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,568 shares of the technology company's stock after purchasing an additional 14,474 shares during the period. Deutsche Bank AG owned about 0.08% of Blackbaud worth $2,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vestcor Inc bought a new position in Blackbaud during the 4th quarter worth $75,000. KBC Group NV raised its stake in Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Huntington National Bank raised its stake in Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after purchasing an additional 227 shares in the last quarter. Blue Trust Inc. raised its stake in 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Blackbaud by 31.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Insider Activity

In related news, CFO Chad Anderson sold 5,500 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the sale, the chief financial officer now directly owns 35,976 shares in the company, valued at $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jon W. Olson sold 10,698 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the sale, the senior vice president now owns 23,799 shares of the company's stock, valued at $1,455,308.85. The trade was 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 owned by corporate insiders.

Blackbaud Price Performance

Blackbaud stock traded down $0.56 during midday trading on Friday, reaching $61.12. The company's stock had a trading volume of 137,842 shares, compared to its average volume of 240,635. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The business has a 50-day moving average price of $62.39 and a 200-day moving average price of $71.42. The stock has a market cap of $2.97 billion, a PE ratio of -10.36 and a beta of 1.16.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. The business had revenue of $270.66 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLKB. Stifel Nicolaus cut their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $78.67.

About Blackbaud

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.