Nissay Asset Management Corp Japan ADV Sells 13,583 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Nissay Asset Management Corp Japan ADV reduced its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 44.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,166 shares of the technology company's stock after selling 13,583 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Blackbaud were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BLKB. Barclays PLC increased its position in Blackbaud by 170.4% in the third quarter. Barclays PLC now owns 80,557 shares of the technology company's stock worth $6,821,000 after buying an additional 50,765 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Blackbaud by 3.7% in the third quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock worth $1,261,000 after acquiring an additional 532 shares during the period. Inspire Investing LLC boosted its holdings in shares of Blackbaud by 11.6% in the fourth quarter. Inspire Investing LLC now owns 5,445 shares of the technology company's stock worth $402,000 after acquiring an additional 566 shares during the period. Tributary Capital Management LLC boosted its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock worth $21,670,000 after acquiring an additional 3,739 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after acquiring an additional 333 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackbaud

In other news, CFO Chad Anderson sold 5,500 shares of the company's 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the transaction, 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

NASDAQ:BLKB traded down $0.56 during trading hours on Friday, hitting $61.12. 137,842 shares of the company's stock traded hands, compared to its average volume of 240,635. The firm has a market cap of $2.97 billion, a P/E ratio of -10.36 and a beta of 1.16. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The business's fifty day simple moving average is $62.39 and its two-hundred day simple moving average is $71.42. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

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, beating the consensus estimate of $0.90 by $0.06. The company had revenue of $270.66 million during the quarter, compared to analyst estimates of $268.53 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. On average, research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stifel Nicolaus cut their price target on 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 cut their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock 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.