TD Private Client Wealth LLC Purchases 347 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

TD Private Client Wealth LLC boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 42.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,174 shares of the technology company’s stock after purchasing an additional 347 shares during the period. TD Private Client Wealth LLC’s holdings in Blackbaud were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC increased its holdings in Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after buying an additional 413 shares during the period. DT Investment Partners LLC purchased a new position in Blackbaud during the second quarter valued at approximately $33,000. Blue Trust Inc. increased its holdings in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after buying an additional 1,047 shares during the period. Meeder Asset Management Inc. purchased a new position in Blackbaud during the third quarter valued at approximately $142,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in Blackbaud in the second quarter worth $201,000. Institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BLKB shares. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Raymond James dropped their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Insider Transactions at Blackbaud

In other news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anthony W. Boor sold 10,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,184 shares of company stock valued at $3,929,907. Corporate insiders own 1.95% of the company’s stock.

Blackbaud Price Performance

Blackbaud stock opened at $78.46 on Monday. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.95. The firm has a 50 day moving average price of $83.08 and a 200 day moving average price of $80.51. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 76.92 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Blackbaud’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current 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.