Teacher Retirement System of Texas lessened its stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 54.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,875 shares of the technology company's stock after selling 5,783 shares during the quarter. Teacher Retirement System of Texas' holdings in Blackbaud were worth $360,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in BLKB. Vestcor Inc purchased a new position in Blackbaud in the fourth quarter worth approximately $75,000. TD Private Client Wealth LLC raised its holdings in shares of 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 purchasing an additional 347 shares in the last quarter. KBC Group NV lifted its position in shares of Blackbaud by 33.9% during the 4th 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. grew its stake in shares of 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Blackbaud in the fourth quarter valued at $216,000. 94.21% of the stock is owned by institutional investors and hedge funds.
Blackbaud Trading Down 0.1 %
NASDAQ BLKB opened at $62.05 on Tuesday. Blackbaud, Inc. has a 12 month low of $61.20 and a 12 month high of $88.95. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.52 and a beta of 1.08. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The firm's fifty day moving average price is $70.28 and its 200 day moving average price is $77.33.
Blackbaud (NASDAQ:BLKB - Get Free Report) last posted 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). The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. On average, sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird lowered their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $85.33.
Get Our Latest Stock Analysis on BLKB
Blackbaud Company Profile
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKB - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Blackbaud, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blackbaud wasn't on the list.
While Blackbaud currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
