Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,676 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,875 shares of the technology company’s stock after purchasing an additional 1,676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blackbaud were worth $804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its holdings 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 period. KBC Group NV raised its holdings 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 period. Blue Trust Inc. raised its holdings 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 period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Blackbaud during the fourth quarter worth $216,000. Finally, Heritage Family Offices LLP raised its holdings in shares of Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after acquiring an additional 166 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Down 1.3 %

Shares of BLKB stock opened at $63.13 on Friday. 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 1 year low of $62.76 and a 1 year high of $88.95. The firm’s fifty day moving average price is $72.02 and its two-hundred day moving average price is $78.21. The firm has a market capitalization of $3.11 billion, a P/E ratio of -10.70 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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. On average, equities analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.33.

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.