Tributary Capital Management LLC Sells 18,580 Shares of Blackbaud, Inc. $BLKB

Key Points

• Tributary Capital Management LLC reduced its holdings in Blackbaud, Inc. by 6.5%, selling 18,580 shares and holding a remaining 265,491 shares valued at approximately $17 million.
• Institutional investors now own 94.21% of Blackbaud's shares, highlighting significant institutional interest in the company.
• Equity analysts have mixed ratings on Blackbaud, with a consensus rating of "Reduce" and an average target price of $70.50.

Tributary Capital Management LLC lessened its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,491 shares of the technology company's stock after selling 18,580 shares during the period. Tributary Capital Management LLC owned approximately 0.55% of Blackbaud worth $17,047,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Blackbaud by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company's stock worth $8,131,000 after acquiring an additional 2,582 shares in the last quarter. KBC Group NV increased its position in shares of Blackbaud by 31.8% during the first quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after acquiring an additional 533 shares in the last quarter. Triodos Investment Management BV increased its position in shares of Blackbaud by 17.6% during the second quarter. Triodos Investment Management BV now owns 50,000 shares of the technology company's stock worth $3,210,000 after acquiring an additional 7,500 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Blackbaud by 2,168.3% during the second quarter. Farther Finance Advisors LLC now owns 1,361 shares of the technology company's stock worth $87,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Blackbaud by 5.2% during the first quarter. Intech Investment Management LLC now owns 43,733 shares of the technology company's stock worth $2,714,000 after acquiring an additional 2,144 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

Shares of BLKB opened at $64.48 on Thursday. The firm has a 50-day moving average of $65.36 and a 200-day moving average of $63.91. 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 $3.13 billion, a PE ratio of -11.16, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 12.92, a current ratio of 0.84 and a quick ratio of 0.84.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Monday, March 4th. The technology company reported $0.68 EPS for the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company had revenue of $274.76 million during the quarter. As a group, equities analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Stifel Nicolaus lowered their price objective on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Blackbaud in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $70.50.

Insider Transactions at Blackbaud

In other news, EVP Kevin P. Gregoire sold 8,000 shares of Blackbaud stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total value of $581,360.00. Following the completion of the transaction, the executive vice president owned 111,156 shares of the company's stock, valued at $8,077,706.52. This trade represents a 6.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rupal S. Hollenbeck sold 2,500 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.98, for a total transaction of $159,950.00. Following the sale, the director owned 7,966 shares of the company's stock, valued at approximately $509,664.68. This represents a 23.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

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.

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