Kesler Norman & Wride LLC Takes $627,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Kesler Norman & Wride LLC acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,480 shares of the technology company's stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vestcor Inc acquired a new position in Blackbaud in the 4th quarter valued at about $75,000. TD Private Client Wealth LLC raised its holdings in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock valued at $99,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV increased its stake in Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after purchasing an additional 424 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after acquiring an additional 333 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Blackbaud by 31.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock worth $154,000 after acquiring an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Stock Down 3.0 %

Shares of BLKB traded down $1.85 during midday trading on Monday, reaching $60.35. 127,752 shares of the company were exchanged, compared to its average volume of 235,153. 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, Inc. has a 1-year low of $55.93 and a 1-year high of $88.95. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -10.15 and a beta of 1.04. The stock has a 50-day moving average price of $69.18 and a 200-day moving average price of $76.74.

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 for the quarter, compared to analysts' expectations of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current 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 on the stock in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently 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.