Allspring Global Investments Holdings LLC Sells 21,129 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Allspring Global Investments Holdings LLC lessened its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,935 shares of the technology company's stock after selling 21,129 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.47% of Blackbaud worth $21,843,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Trust Point Inc. acquired a new position in Blackbaud in the 4th quarter valued at about $729,000. Pacer Advisors Inc. grew its holdings in Blackbaud by 157.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,270 shares of the technology company's stock valued at $804,000 after buying an additional 5,669 shares during the period. Raymond James & Associates purchased a new stake in Blackbaud in the 4th quarter valued at about $562,000. Nordea Investment Management AB grew its holdings in Blackbaud by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 80,256 shares of the technology company's stock valued at $7,033,000 after buying an additional 5,266 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Blackbaud by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 93,391 shares of the technology company's stock valued at $6,567,000 after buying an additional 1,103 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael P. Gianoni sold 5,360 shares of Blackbaud stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.05, for a total value of $396,908.00. Following the completion of the transaction, the chief executive officer now directly owns 413,114 shares of the company's stock, valued at approximately $30,591,091.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, CEO Michael P. Gianoni sold 5,799 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.02, for a total transaction of $429,241.98. Following the sale, the chief executive officer now directly owns 402,060 shares in the company, valued at approximately $29,760,481.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Gianoni sold 5,360 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the sale, the chief executive officer now owns 413,114 shares in the company, valued at $30,591,091.70. The disclosure for this sale can be found here. Insiders sold a total of 44,897 shares of company stock valued at $3,190,458 in the last ninety days. Corporate insiders own 1.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BLKB shares. StockNews.com upgraded Blackbaud from a "hold" rating to a "buy" rating in a report on Thursday. Robert W. Baird lowered their price target on Blackbaud from $95.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, February 14th.

Blackbaud Trading Up 1.0 %

Shares of BLKB stock traded up $0.75 during mid-day trading on Friday, reaching $76.72. The company's stock had a trading volume of 351,566 shares, compared to its average volume of 263,375. The company's 50 day simple moving average is $72.75 and its 200-day simple moving average is $75.89. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $4.10 billion, a PE ratio of 2,557.33, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The firm had revenue of $295.01 million for the quarter, compared to the consensus estimate of $299.04 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

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.