Point72 Asset Management L.P. Buys Shares of 10,400 Blackbaud, Inc. (NASDAQ:BLKB)

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

A number of other hedge funds and other institutional investors also recently modified their holdings of BLKB. Vestcor Inc acquired a new stake in shares of Blackbaud during the fourth quarter worth $75,000. KBC Group NV lifted its holdings in shares of Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after buying an additional 424 shares in the last quarter. Huntington National Bank raised its stake in Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after purchasing an additional 227 shares in the last quarter. Blue Trust Inc. raised its stake in Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after purchasing an additional 333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Blackbaud by 31.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company's stock.

Insiders Place Their Bets

In other news, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction that occurred on 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. This represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Chad Anderson sold 5,500 shares of the company's 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 completion of the transaction, the chief financial officer now directly owns 35,976 shares of the company's stock, valued at $2,302,104.24. This represents a 13.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.95% of the company's stock.

Blackbaud Price Performance

NASDAQ BLKB traded up $1.02 during trading on Tuesday, hitting $62.14. 95,262 shares of the company's stock were exchanged, compared to its average volume of 240,074. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a market cap of $3.01 billion, a PE ratio of -10.53 and a beta of 1.16. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The stock's 50 day moving average price is $62.32 and its two-hundred day moving average price is $71.18.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on BLKB. Robert W. Baird dropped their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price target on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $78.67.

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.