Tributary Capital Management LLC Buys 3,739 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Tributary Capital Management LLC raised its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 293,148 shares of the technology company’s stock after purchasing an additional 3,739 shares during the quarter. Blackbaud accounts for about 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Tributary Capital Management LLC’s holdings in Blackbaud were worth $21,670,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the period. Blue Trust Inc. grew its holdings in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Blackbaud during the third quarter valued at approximately $142,000. Heritage Family Offices LLP raised its stake in shares of Blackbaud by 5.9% in 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 in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Blackbaud in the third quarter worth $294,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Trading Up 0.0 %

Shares of Blackbaud stock opened at $76.26 on Friday. Blackbaud, Inc. has a 12-month low of $66.47 and a 12-month high of $88.95. The stock has a market capitalization of $3.76 billion, a P/E ratio of 74.77 and a beta of 1.08. The company has a 50-day simple moving average of $78.65 and a 200 day simple moving average of $80.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

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 firm had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. 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, CEO Michael P. Gianoni sold 12,325 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the sale, the chief executive officer now directly owns 389,539 shares of the company’s stock, valued at $32,429,121.75. This represents a 3.07 % 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 link. Also, Director Sarah E. Nash sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares of the company’s stock, valued at $1,992,257.54. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.