GAMMA Investing LLC Boosts Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

GAMMA Investing LLC increased its holdings in 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 and Exchange Commission. The firm owned 35,617 shares of the technology company's stock after buying an additional 34,975 shares during the quarter. GAMMA Investing LLC owned about 0.07% of Blackbaud worth $2,210,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its holdings in shares of 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 worth $1,858,000 after purchasing an additional 988 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Blackbaud by 63.5% during the fourth quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company's stock worth $20,864,000 after buying an additional 109,630 shares in the last quarter. Handelsbanken Fonder AB grew its position in Blackbaud by 8.3% during the fourth quarter. Handelsbanken Fonder AB now owns 11,730 shares of the technology company's stock valued at $867,000 after buying an additional 900 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Blackbaud in the fourth quarter valued at $216,000. Finally, Bank of New York Mellon Corp raised its position in shares of Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock worth $35,671,000 after acquiring an additional 140,273 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Price Performance

Shares of BLKB traded down $1.30 during mid-day trading on Tuesday, hitting $60.84. 422,241 shares of the company were exchanged, compared to its average volume of 241,949. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -10.31, a price-to-earnings-growth ratio of 4.63 and a beta of 1.14. Blackbaud, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95. The company has a 50 day moving average of $62.39 and a 200-day moving average of $68.78. The company has a debt-to-equity ratio of 35.64, a quick ratio of 0.73 and a current ratio of 0.73.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, beating 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 positive return on equity of 38.58% and a negative net margin of 25.05%. The business's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird dropped their price objective 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $78.67.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 35,976 shares in the company, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction that occurred 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. This trade represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.

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.