Cibc World Markets Corp Acquires New Position in Blackbaud, Inc. (NASDAQ:BLKB)

Cibc World Markets Corp bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the fourth quarter, Holdings Channel reports. The fund bought 3,793 shares of the technology company’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vestcor Inc purchased a new stake in shares of Blackbaud during the 4th quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its stake in 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 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. Blue Trust Inc. raised its position in 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 purchasing an additional 333 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Blackbaud in the 4th quarter valued at $216,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Up 0.4 %

Blackbaud stock opened at $62.13 on Wednesday. The company has a market capitalization of $3.06 billion, a PE ratio of -10.53 and a beta of 1.08. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. Blackbaud, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $88.95. The firm has a 50 day moving average price of $71.50 and a 200 day moving average price of $77.88.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data 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 firm had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.