Point72 Asset Management L.P. Takes $769,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Point72 Asset Management L.P. purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,400 shares of the technology company's stock, valued at approximately $769,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Blackbaud during the fourth quarter worth approximately $34,168,000. Penn Capital Management Company LLC acquired a new stake in shares of Blackbaud during the 4th quarter valued at $10,581,000. Bank of New York Mellon Corp boosted its stake in shares of Blackbaud by 41.0% during the 4th 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. New York State Common Retirement Fund grew 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 worth $20,864,000 after acquiring an additional 109,630 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Blackbaud by 44.3% during the fourth quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company's stock worth $24,071,000 after purchasing an additional 100,003 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird lowered their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price target on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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 Blackbaud stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,302,104.24. The trade was a 13.26% decrease in their ownership of the stock. The sale 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 company's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

Shares of NASDAQ:BLKB traded down $0.63 during midday trading on Wednesday, reaching $61.59. The company's stock had a trading volume of 16,632 shares, compared to its average volume of 239,735. The business's fifty day simple moving average is $62.29 and its 200-day simple moving average is $71.11. The company has a market capitalization of $2.99 billion, a P/E ratio of -10.44 and a beta of 1.16. 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 fifty-two week low of $58.05 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $270.66 million during the quarter, compared to analysts' expectations of $268.53 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

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.