Grandfield & Dodd LLC Reduces Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Grandfield & Dodd LLC lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 27.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,068 shares of the technology company's stock after selling 26,972 shares during the quarter. Grandfield & Dodd LLC owned about 0.13% of Blackbaud worth $6,162,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in Blackbaud by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 93,391 shares of the technology company's stock worth $6,567,000 after acquiring an additional 1,103 shares during the period. American Century Companies Inc. boosted its position in Blackbaud by 499.1% during the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company's stock worth $21,661,000 after acquiring an additional 256,619 shares during the period. Nordea Investment Management AB boosted its position in Blackbaud by 16.2% during the 3rd quarter. Nordea Investment Management AB now owns 74,990 shares of the technology company's stock worth $5,325,000 after acquiring an additional 10,473 shares during the period. Vanguard Group Inc. boosted its position in Blackbaud by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company's stock worth $390,336,000 after acquiring an additional 70,115 shares during the period. Finally, Morgan Stanley boosted its position in Blackbaud by 1.7% during the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company's stock worth $301,014,000 after acquiring an additional 72,071 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird reduced their price target on Blackbaud from $95.00 to $88.00 and set an "outperform" rating for the company in a research report on Wednesday, February 14th. StockNews.com lowered Blackbaud from a "buy" rating to a "hold" rating in a report on Friday.

Insider Activity

In other news, CEO Michael P. Gianoni sold 25,354 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the sale, the chief executive officer now directly owns 357,104 shares of the company's stock, valued at $24,558,042.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael P. Gianoni sold 5,360 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the transaction, the chief executive officer now directly owns 413,114 shares of the company's stock, valued at $30,591,091.70. 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 25,354 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The disclosure for this sale can be found here. Insiders sold a total of 59,897 shares of company stock valued at $4,377,015 over the last three months. Insiders own 1.89% of the company's stock.

Blackbaud Price Performance

Shares of Blackbaud stock traded down $0.23 during trading on Friday, hitting $76.48. The stock had a trading volume of 331,206 shares, compared to its average volume of 281,262. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $4.09 billion, a P/E ratio of 2,549.33, a PEG ratio of 3.33 and a beta of 1.04. The business has a fifty day moving average of $72.48 and a two-hundred day moving average of $76.12. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The business had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. During the same period in the prior year, the business posted $0.28 earnings per share. Blackbaud's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Blackbaud, Inc. will post 2.35 earnings per share 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.