AlphaQuest LLC Has $92,000 Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

AlphaQuest LLC cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 79.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,239 shares of the technology company's stock after selling 4,834 shares during the period. AlphaQuest LLC's holdings in Blackbaud were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Blackbaud in the 4th quarter valued at about $6,546,000. Victory Capital Management Inc. increased its stake in shares of Blackbaud by 3.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company's stock valued at $1,094,000 after acquiring an additional 519 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Blackbaud by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company's stock valued at $30,505,000 after acquiring an additional 2,298 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after acquiring an additional 140,273 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Blackbaud in the 4th quarter valued at about $216,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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Blackbaud Stock Down 1.3 %

NASDAQ BLKB traded down $0.80 during trading hours on Friday, reaching $63.13. 1,238,589 shares of the company's stock were exchanged, compared to its average volume of 221,838. The company's 50-day moving average is $72.02 and its two-hundred day moving average is $78.21. Blackbaud, Inc. has a one year low of $62.76 and a one 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 company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.70 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) 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 the consensus estimate of $303.41 million. On average, analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.