EP Wealth Advisors LLC Invests $294,000 in Blackbaud, Inc. (NASDAQ:BLKB)

EP Wealth Advisors LLC acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,471 shares of the technology company’s stock, valued at approximately $294,000.

Several other large investors have also bought and sold shares of the stock. Arizona State Retirement System lifted its position in shares of Blackbaud by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after purchasing an additional 137 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in Blackbaud by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Blackbaud by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after acquiring an additional 184 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Blackbaud by 2.1% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after acquiring an additional 225 shares during the period. Finally, Inspire Investing LLC grew its holdings in Blackbaud by 6.4% during the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock worth $413,000 after acquiring an additional 292 shares during the period. 94.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James dropped their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Finally, Baird R W downgraded shares of 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.67.

Blackbaud Stock Down 2.2 %

BLKB stock opened at $78.46 on Friday. 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, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The stock’s 50 day simple moving average is $83.08 and its 200 day simple moving average is $80.47. The company has a market cap of $3.98 billion, a P/E ratio of 76.92 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. On average, research analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the senior vice president now owns 24,025 shares in the company, valued at $2,042,125. This trade represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Gianoni sold 12,325 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the sale, the chief executive officer now owns 389,539 shares of the company’s stock, valued at $32,429,121.75. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,394 shares of company stock valued at $4,373,270. Corporate insiders own 1.95% of the company’s stock.

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.