Bank of New York Mellon Corp Has $35.67 Million Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Bank of New York Mellon Corp raised its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 41.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,561 shares of the technology company's stock after acquiring an additional 140,273 shares during the quarter. Bank of New York Mellon Corp owned 0.98% of Blackbaud worth $35,671,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its position 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 buying an additional 347 shares in the last quarter. KBC Group NV raised its stake in shares of Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Blackbaud during the third quarter worth about $142,000. Blue Trust Inc. grew its stake in Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after purchasing an additional 333 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Blackbaud in the fourth quarter worth about $216,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.33.

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Blackbaud Price Performance

Shares of BLKB stock traded up $0.45 during mid-day trading on Tuesday, hitting $67.03. 461,636 shares of the stock traded hands, compared to its average volume of 235,549. 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 firm has a market cap of $3.30 billion, a price-to-earnings ratio of -11.36 and a beta of 1.08. The company's 50-day simple moving average is $73.88 and its 200-day simple moving average is $79.31. Blackbaud, Inc. has a twelve month low of $63.69 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share 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 for the quarter, compared to the consensus estimate of $303.41 million. As a group, equities research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Blackbaud 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.