Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 44.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 325,637 shares of the technology company's stock after buying an additional 100,003 shares during the quarter. JPMorgan Chase & Co. owned about 0.66% of Blackbaud worth $24,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BLKB. Vestcor Inc acquired a new position in shares of Blackbaud during the 4th quarter valued at about $75,000. TD Private Client Wealth LLC grew its holdings in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock valued at $99,000 after purchasing an additional 347 shares during the period. KBC Group NV increased its position in Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after purchasing an additional 424 shares during the last quarter. Blue Trust Inc. raised its stake in Blackbaud by 20.9% during 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Blackbaud by 31.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after purchasing an additional 499 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Trading Up 1.6 %

NASDAQ BLKB traded up $0.95 during mid-day trading on Tuesday, hitting $62.17. The company's stock had a trading volume of 42,987 shares, compared to its average volume of 299,853. The firm has a market capitalization of $3.06 billion, a P/E ratio of -10.54 and a beta of 1.04. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The stock's fifty day simple moving average is $66.48 and its two-hundred day simple moving average is $75.46.

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

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Blackbaud presently has a consensus rating of "Hold" and a consensus price target of $85.33.

Blackbaud Company 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.