Grandfield & Dodd LLC Lowers Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Grandfield & Dodd LLC decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 63.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,960 shares of the technology company's stock after selling 17,350 shares during the period. Grandfield & Dodd LLC's holdings in Blackbaud were worth $736,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BLKB. State Street Corp raised its stake in Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company's stock worth $139,492,000 after acquiring an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company's stock worth $108,684,000 after purchasing an additional 235,859 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Blackbaud by 0.4% during the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company's stock worth $99,541,000 after purchasing an additional 4,122 shares during the period. Bank of New York Mellon Corp boosted its position in Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after buying an additional 140,273 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock worth $36,332,000 after buying an additional 154,019 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

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Blackbaud Price Performance

Shares of BLKB stock traded down $0.36 during trading hours on Thursday, hitting $64.65. 389,173 shares of the company's stock were exchanged, compared to its average volume of 221,851. The firm has a 50 day moving average of $74.45 and a two-hundred day moving average of $79.58. Blackbaud, Inc. has a fifty-two week low of $63.69 and a fifty-two week high of $88.95. The firm has a market cap of $3.18 billion, a P/E ratio of -10.96 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $302.23 million during the quarter, compared to analysts' expectations of $303.41 million. Sell-side analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird decreased 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $85.33.

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.