Victory Capital Management Inc. Raises Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Victory Capital Management Inc. raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 14,797 shares of the technology company’s stock after buying an additional 519 shares during the quarter. Victory Capital Management Inc.’s holdings in Blackbaud were worth $1,094,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in shares of Blackbaud by 42.0% in 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 in the last quarter. KBC Group NV increased its stake in Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Blackbaud during the third quarter worth $142,000. Blue Trust Inc. grew its stake in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after buying an additional 333 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Blackbaud in the fourth quarter valued at $216,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Price Performance

BLKB stock opened at $64.63 on Thursday. Blackbaud, Inc. has a 1 year low of $62.99 and a 1 year high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock’s 50 day moving average price is $72.48 and its 200 day moving average price is $78.45. The firm has a market cap of $3.18 billion, a P/E ratio of -10.95 and a beta of 1.08.

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

Analyst Ratings Changes

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

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.