82,204 Shares in Blackbaud, Inc. (NASDAQ:BLKB) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 82,204 shares of the technology company's stock, valued at approximately $6,077,000. Arrowstreet Capital Limited Partnership owned 0.17% of Blackbaud at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BLKB. Pictet Asset Management Holding SA boosted its position in Blackbaud by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,452 shares of the technology company's stock valued at $477,000 after buying an additional 870 shares during the last quarter. Triodos Investment Management BV lifted its stake in Blackbaud by 4.5% during the 4th quarter. Triodos Investment Management BV now owns 35,000 shares of the technology company's stock valued at $2,587,000 after acquiring an additional 1,500 shares during the period. Norges Bank purchased a new stake in shares of Blackbaud in the 4th quarter valued at $34,168,000. JPMorgan Chase & Co. lifted its position in Blackbaud by 44.3% during the fourth quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company's stock valued at $24,071,000 after purchasing an additional 100,003 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Blackbaud by 31.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock worth $154,000 after purchasing an additional 499 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $85.33.

Blackbaud Price Performance

Shares of Blackbaud stock traded up $0.93 during trading hours on Friday, reaching $61.13. The stock had a trading volume of 250,087 shares, compared to its average volume of 235,638. 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 twelve month low of $58.05 and a twelve month high of $88.95. The stock's 50 day moving average is $66.83 and its 200 day moving average is $75.68. The firm has a market capitalization of $3.01 billion, a PE ratio of -10.36 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal 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.