Calamos Advisors LLC Takes $6.75 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Calamos Advisors LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 91,251 shares of the technology company’s stock, valued at approximately $6,745,000. Calamos Advisors LLC owned 0.19% of Blackbaud as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BLKB. State of New Jersey Common Pension Fund D grew its position in shares of Blackbaud by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after buying an additional 151 shares during the period. Heritage Family Offices LLP grew its holdings in Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after purchasing an additional 166 shares during the period. Brookstone Capital Management raised its holdings in Blackbaud by 3.7% in the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares during the period. Inspire Investing LLC boosted its position in shares of Blackbaud by 6.4% during the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock worth $413,000 after purchasing an additional 292 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other news, Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the sale, the director now directly owns 23,723 shares in the company, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 approximately $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,923 shares of company stock valued at $3,737,450 in the last 90 days. 1.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on BLKB shares. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.67.

Blackbaud Trading Up 3.0 %

BLKB opened at $78.77 on Wednesday. The stock has a market capitalization of $3.88 billion, a P/E ratio of 77.23 and a beta of 1.08. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The firm’s fifty day simple moving average is $77.57 and its 200 day simple moving average is $80.39.

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.