Kennedy Capital Management LLC Sells 4,533 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Kennedy Capital Management LLC cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,759 shares of the technology company's stock after selling 4,533 shares during the period. Kennedy Capital Management LLC owned about 0.05% of Blackbaud worth $1,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Blackbaud during the fourth quarter valued at approximately $34,168,000. Bank of New York Mellon Corp boosted its position in Blackbaud by 41.0% in the 4th 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. New York State Common Retirement Fund increased its stake in shares of Blackbaud by 63.5% in the 4th quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company's stock valued at $20,864,000 after buying an additional 109,630 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Blackbaud by 44.3% in the 4th quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company's stock valued at $24,071,000 after buying an additional 100,003 shares during the period. Finally, Calamos Advisors LLC acquired a new position in shares of Blackbaud during the fourth quarter valued at $6,745,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Up 1.0 %

BLKB traded up $0.64 during trading on Friday, hitting $62.02. The company had a trading volume of 244,866 shares, compared to its average volume of 234,012. The firm's 50-day moving average price is $65.44 and its 200 day moving average price is $75.11. The company has a market capitalization of $3.05 billion, a PE ratio of -10.51 and a beta of 1.04. 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, Inc. has a one year low of $58.05 and a one year high of $88.95.

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 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 firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. As a group, equities analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

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 report 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.