Cornercap Investment Counsel Inc. Has $1.30 Million Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Cornercap Investment Counsel Inc. decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,062 shares of the technology company’s stock after selling 152 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Blackbaud were worth $1,300,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in Blackbaud during the 2nd quarter valued at $33,000. Quest Partners LLC increased its position in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the period. YHB Investment Advisors Inc. bought a new position in Blackbaud during the 1st quarter worth $54,000. Parallel Advisors LLC increased its position in Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after buying an additional 552 shares during the period. Finally, AXS Investments LLC bought a new position in Blackbaud during the 4th quarter worth $181,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jon W. Olson sold 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the transaction, the senior vice president now owns 29,628 shares in the company, valued at $2,251,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Kevin P. Gregoire sold 5,000 shares of Blackbaud stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $84.00, for a total transaction of $420,000.00. Following the sale, the chief operating officer now directly owns 105,715 shares of the company’s stock, valued at $8,880,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the sale, the senior vice president now directly owns 29,628 shares in the company, valued at $2,251,728. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,938 shares of company stock worth $3,847,373. Company insiders own 1.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BLKB shares. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

Blackbaud Stock Up 0.9 %

Shares of NASDAQ BLKB opened at $82.05 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The stock has a market capitalization of $4.24 billion, a P/E ratio of 200.12 and a beta of 1.02. The stock’s fifty day moving average is $78.81 and its 200 day moving average is $76.70.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The company had revenue of $287.29 million for the quarter, compared to analysts’ expectations of $289.26 million. During the same quarter last year, the business earned $0.49 earnings per share. Blackbaud’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Blackbaud, Inc. will post 2.38 earnings per share for the current fiscal year.

Blackbaud 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.