Brookstone Capital Management Buys 1,212 Shares of Blackbaud, Inc. (BLKB)

Brookstone Capital Management boosted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 37.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,429 shares of the technology company’s stock after buying an additional 1,212 shares during the period. Brookstone Capital Management’s holdings in Blackbaud were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Blackbaud in the 4th quarter valued at $46,789,000. Atlanta Capital Management Co. L L C lifted its stake in shares of Blackbaud by 8.3% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock valued at $291,799,000 after purchasing an additional 355,998 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Blackbaud in the 4th quarter valued at $20,543,000. FMR LLC lifted its stake in shares of Blackbaud by 12,718.2% in the 4th quarter. FMR LLC now owns 163,048 shares of the technology company’s stock valued at $10,255,000 after purchasing an additional 161,776 shares during the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new position in shares of Blackbaud in the 4th quarter valued at $8,895,000.

BLKB stock opened at $78.97 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.84 billion, a P/E ratio of 42.23, a PEG ratio of 7.45 and a beta of 1.31. Blackbaud, Inc. has a 12-month low of $58.23 and a 12-month high of $120.35.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. The firm had revenue of $221.79 million for the quarter, compared to the consensus estimate of $220.40 million. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. On average, research analysts expect that Blackbaud, Inc. will post 1.27 EPS for the current year.

In other Blackbaud news, CFO Anthony W. Boor sold 13,585 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $77.34, for a total transaction of $1,050,663.90. Following the sale, the chief financial officer now owns 120,863 shares in the company, valued at approximately $9,347,544.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael P. Gianoni sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $76.35, for a total value of $2,290,500.00. Following the sale, the insider now owns 276,614 shares in the company, valued at approximately $21,119,478.90. The disclosure for this sale can be found here. Insiders sold a total of 86,432 shares of company stock worth $6,661,485 in the last quarter. Company insiders own 1.55% of the company’s stock.

BLKB has been the topic of several recent analyst reports. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, January 2nd. DA Davidson decreased their price target on Blackbaud to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 3rd. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, Stephens initiated coverage on Blackbaud in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $88.63.

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Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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