Avantax Advisory Services Inc. Has $858,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Avantax Advisory Services Inc. lowered its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,606 shares of the technology company’s stock after selling 1,114 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Blackbaud were worth $858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its position in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV raised its position in shares of 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. bought a new stake in shares of Blackbaud during the third quarter worth $142,000. Blue Trust Inc. raised its position in shares of Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after acquiring an additional 333 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Blackbaud during the fourth quarter worth $216,000. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

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

Blackbaud Trading Down 1.1 %

NASDAQ BLKB opened at $63.93 on Friday. The stock has a 50-day simple moving average of $72.25 and a 200 day simple moving average of $78.35. The company has a market capitalization of $3.15 billion, a PE ratio of -10.84 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. Blackbaud, Inc. has a 12 month low of $62.99 and a 12 month high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Research analysts forecast 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.