GAMMA Investing LLC Has $2.21 Million Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

GAMMA Investing LLC raised its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 5,447.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,617 shares of the technology company's stock after purchasing an additional 34,975 shares during the quarter. GAMMA Investing LLC owned 0.07% of Blackbaud worth $2,210,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D raised its position in Blackbaud by 4.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,140 shares of the technology company's stock valued at $1,858,000 after buying an additional 988 shares during the period. New York State Common Retirement Fund increased its holdings 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 purchasing an additional 109,630 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Blackbaud by 8.3% in the fourth quarter. Handelsbanken Fonder AB now owns 11,730 shares of the technology company's stock worth $867,000 after purchasing an additional 900 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Blackbaud during the fourth quarter worth approximately $216,000. Finally, Bank of New York Mellon Corp grew its position in 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 purchasing an additional 140,273 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLKB has been the subject of several recent research reports. Robert W. Baird cut their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus cut their price target on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $78.67.

Blackbaud Stock Up 0.8%

Shares of NASDAQ BLKB traded up $0.46 during mid-day trading on Monday, reaching $61.06. 78,312 shares of the company traded hands, compared to its average volume of 239,996. The company's fifty day moving average is $62.35 and its two-hundred day moving average is $68.98. 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, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The stock has a market cap of $2.96 billion, a PE ratio of -10.35 and a beta of 1.14.

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

Insiders Place Their Bets

In related news, CFO Chad Anderson sold 5,500 shares of Blackbaud stock in a transaction dated 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 transaction, the chief financial officer now directly owns 35,976 shares of the company's stock, valued at $2,302,104.24. The trade was a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the sale, the senior vice president now owns 23,799 shares of the company's stock, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

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.