Van Berkom & Associates Inc. reduced its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 523,456 shares of the technology company's stock after selling 140,460 shares during the period. Van Berkom & Associates Inc. owned about 1.06% of Blackbaud worth $38,694,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BLKB. State of New Jersey Common Pension Fund D increased its holdings in Blackbaud by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company's stock worth $2,045,000 after buying an additional 151 shares in the last quarter. Heritage Family Offices LLP grew its position in Blackbaud by 5.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock worth $221,000 after purchasing an additional 166 shares during the period. Brookstone Capital Management raised its stake in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock valued at $563,000 after buying an additional 275 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after buying an additional 333 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Blackbaud by 42.0% in 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 period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on BLKB. Baird R W downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Blackbaud currently has a consensus rating of "Hold" and an average price target of $85.33.
Check Out Our Latest Report on Blackbaud
Blackbaud Stock Performance
NASDAQ BLKB traded down $1.60 on Tuesday, hitting $67.30. 174,891 shares of the company traded hands, compared to its average volume of 186,355. The business's 50 day moving average price is $75.95 and its 200-day moving average price is $80.15. Blackbaud, Inc. has a 52-week low of $66.07 and a 52-week high of $88.95. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.42 and a beta of 1.08.
Blackbaud (NASDAQ:BLKB - Get Free Report) last posted 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 company had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.
Blackbaud Profile
(
Free Report)
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.
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