Geneva Capital Management LLC Decreases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC reduced its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,157,387 shares of the technology company's stock after selling 18,106 shares during the quarter. Blackbaud makes up 1.5% of Geneva Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Geneva Capital Management LLC owned approximately 2.35% of Blackbaud worth $85,554,000 as of its most recent SEC filing.

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

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Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $85.33.

Blackbaud Trading Up 1.3 %

BLKB traded up $0.85 on Monday, reaching $66.58. 517,665 shares of the company's stock were exchanged, compared to its average volume of 230,526. Blackbaud, Inc. has a twelve month low of $63.69 and a twelve month high of $88.95. The company's 50 day moving average is $74.03 and its 200-day moving average is $79.41. 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 cap of $3.28 billion, a price-to-earnings ratio of -11.28 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $303.41 million. Equities analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

About Blackbaud

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.