Millennium Management LLC Sells 6,790 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Millennium Management LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,434 shares of the technology company's stock after selling 6,790 shares during the period. Millennium Management LLC's holdings in Blackbaud were worth $697,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BLKB. Vestcor Inc bought a new position in Blackbaud in the 4th quarter worth approximately $75,000. KBC Group NV boosted its holdings in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after buying an additional 424 shares during the period. Huntington National Bank boosted its holdings in Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after buying an additional 227 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Blackbaud by 31.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock worth $154,000 after buying an additional 499 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Blackbaud by 156.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the technology company's stock valued at $213,000 after purchasing an additional 1,752 shares during the period. 94.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird cut their price target on shares of 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 shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Four investment 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, Blackbaud currently has an average rating of "Hold" and an average price target of $78.67.

Insider Transactions at Blackbaud

In related news, CFO Chad Anderson sold 5,500 shares of Blackbaud stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the transaction, the chief financial officer now owns 35,976 shares in the company, valued at $2,302,104.24. This trade represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction on 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 transaction, the senior vice president now owns 23,799 shares in the company, 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. 1.95% of the stock is currently owned by insiders.

Blackbaud Stock Up 0.6%

Shares of NASDAQ:BLKB opened at $63.82 on Friday. The firm has a fifty day moving average price of $62.34 and a two-hundred day moving average price of $69.93. 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 one year low of $58.05 and a one year high of $88.95. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -10.82 and a beta of 1.14.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted 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. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $270.66 million during the quarter, compared to the consensus estimate of $268.53 million. During the same period in the previous year, the firm posted $0.93 EPS. The firm's revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

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.

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