XTX Topco Ltd Buys Shares of 6,761 Blackbaud, Inc. (NASDAQ:BLKB)

XTX Topco Ltd purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the third quarter, HoldingsChannel reports. The firm purchased 6,761 shares of the technology company’s stock, valued at approximately $573,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BLKB. DT Investment Partners LLC bought a new stake in shares of Blackbaud in the 2nd quarter valued at about $33,000. Quest Partners LLC increased its stake in shares of Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Blackbaud in the 3rd quarter valued at about $142,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of Blackbaud in the 2nd quarter valued at about $201,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BLKB. Raymond James lowered their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.67.

Blackbaud Price Performance

NASDAQ BLKB opened at $80.26 on Friday. The business has a 50 day simple moving average of $83.15 and a 200 day simple moving average of $80.48. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 78.69 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to the consensus estimate 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 posted $0.65 earnings per share. Analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at Blackbaud

In other news, EVP Kevin Mcdearis sold 3,210 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.16, for a total transaction of $273,363.60. Following the completion of the transaction, the executive vice president now directly owns 63,802 shares of the company’s stock, valued at $5,433,378.32. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Gianoni sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.15, for a total transaction of $66,520.00. Following the transaction, the chief executive officer now directly owns 373,293 shares of the company’s stock, valued at $31,039,312.95. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,394 shares of company stock valued at $4,373,270 in the last ninety days. 1.95% of the stock is currently owned by corporate insiders.

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.