Vanguard Group Inc. Boosts Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Vanguard Group Inc. raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,790,603 shares of the technology company’s stock after buying an additional 9,736 shares during the period. Vanguard Group Inc. owned about 0.12% of Blackbaud worth $428,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after acquiring an additional 56,090 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after purchasing an additional 140,273 shares during the period. Wellington Management Group LLP grew its holdings in shares of Blackbaud by 56.0% in the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after purchasing an additional 154,019 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 during the period. Finally, Tributary Capital Management LLC lifted its holdings in Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after buying an additional 3,739 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Stock Up 2.3 %

Blackbaud stock opened at $63.48 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The firm has a market cap of $3.13 billion, a P/E ratio of -10.76 and a beta of 1.08. The business has a fifty day moving average of $69.98 and a two-hundred day moving average of $77.18. Blackbaud, Inc. has a twelve month low of $61.20 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data 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 company had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. On average, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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