Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,542 shares of the technology company’s stock after selling 925 shares during the period. PNC Financial Services Group Inc.’s holdings in Blackbaud were worth $484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after buying an additional 56,090 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud by 22.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after buying an additional 235,859 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after buying an additional 140,273 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Blackbaud by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock worth $30,505,000 after buying an additional 2,298 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.33.

Blackbaud Price Performance

NASDAQ:BLKB opened at $64.63 on Thursday. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -10.95 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company’s 50-day moving average is $72.48 and its two-hundred day moving average is $78.45. Blackbaud, Inc. has a 12-month low of $62.99 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

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.