5,956 Shares in Blackbaud, Inc. (NASDAQ:BLKB) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,956 shares of the technology company's stock, valued at approximately $440,000.

Several other large investors have also recently modified their holdings of BLKB. Vestcor Inc acquired a new position in Blackbaud during the 4th quarter worth about $75,000. TD Private Client Wealth LLC lifted its stake in shares of Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock worth $99,000 after acquiring an additional 347 shares during the period. KBC Group NV boosted its holdings 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 acquiring an additional 424 shares during the last quarter. Huntington National Bank raised its holdings in Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after purchasing an additional 227 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Analysts Set New Price Targets

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

Blackbaud Stock Up 0.1 %

NASDAQ BLKB traded up $0.07 on Thursday, hitting $61.45. 55,764 shares of the company were exchanged, compared to its average volume of 233,136. The stock has a fifty day moving average of $65.80 and a 200-day moving average of $75.27. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95. The company has a market cap of $3.03 billion, a PE ratio of -10.42 and a beta of 1.04. 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 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 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, analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.