Goodman Advisory Group LLC Takes $4.63 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Goodman Advisory Group LLC bought a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 80,442 shares of the technology company's stock, valued at approximately $4,630,000. Blackbaud comprises about 2.1% of Goodman Advisory Group LLC's investment portfolio, making the stock its 11th biggest holding. Goodman Advisory Group LLC owned 0.16% of Blackbaud at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cibc World Markets Corp acquired a new position in Blackbaud during the 4th quarter worth $280,000. Bank of New York Mellon Corp lifted its holdings 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 worth $35,671,000 after acquiring an additional 140,273 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Blackbaud during the 4th quarter valued at about $6,546,000. UMB Bank n.a. boosted its stake in Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after purchasing an additional 268 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in Blackbaud by 163.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,637 shares of the technology company's stock worth $1,452,000 after acquiring an additional 12,189 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Insider Activity at Blackbaud

In other news, CFO Chad Anderson sold 5,500 shares of the stock in a transaction that occurred 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 directly owned 35,976 shares of the company's stock, valued at $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $61.15, for a total transaction of $654,182.70. Following the completion of the sale, the senior vice president directly owned 23,799 shares in the company, valued at approximately $1,455,308.85. This represents a 31.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.97% of the company's stock.

Blackbaud Price Performance

NASDAQ BLKB traded up $0.14 during trading on Monday, hitting $64.21. 199,258 shares of the company's stock were exchanged, compared to its average volume of 244,533. The company has a market cap of $3.12 billion, a PE ratio of -10.88, a P/E/G ratio of 4.77 and a beta of 1.14. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 35.64. The stock's 50 day moving average price is $62.61 and its two-hundred day moving average price is $67.67. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. The company had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. Blackbaud had a negative net margin of 25.05% and a positive return on equity of 38.58%. Blackbaud's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. Research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price objective on 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.