Intech Investment Management LLC Purchases 29,010 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Intech Investment Management LLC boosted its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 230.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,589 shares of the technology company's stock after purchasing an additional 29,010 shares during the period. Intech Investment Management LLC owned about 0.08% of Blackbaud worth $3,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock valued at $4,770,000 after acquiring an additional 19,270 shares in the last quarter. Entropy Technologies LP purchased a new position in Blackbaud in the 4th quarter valued at approximately $377,000. JPMorgan Chase & Co. raised its stake in shares of Blackbaud by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock valued at $19,107,000 after purchasing an additional 7,097 shares during the period. Tributary Capital Management LLC lifted its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock worth $21,670,000 after buying an additional 3,739 shares in the last quarter. Finally, Simcoe Capital Management LLC bought a new stake in Blackbaud during the 3rd quarter worth approximately $5,987,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

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Blackbaud Price Performance

Shares of Blackbaud stock traded down $1.23 on Monday, hitting $61.90. 519,224 shares of the company traded hands, compared to its average volume of 223,323. Blackbaud, Inc. has a 12-month low of $61.18 and a 12-month high of $88.95. The firm's 50-day simple moving average is $72.02 and its 200 day simple moving average is $78.16. The company has a market cap of $3.05 billion, a P/E ratio of -10.49 and a beta of 1.08. 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 (NASDAQ:BLKB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million during the quarter, compared to analysts' expectations of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $85.33.

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.