Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,790,603 shares of the technology company's stock after acquiring an additional 9,736 shares during the period. Vanguard Group Inc. owned about 11.76% of Blackbaud worth $428,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Blackbaud by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company's stock valued at $34,751,000 after purchasing an additional 2,934 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Blackbaud by 17.3% during the third quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company's stock worth $2,028,000 after buying an additional 3,533 shares during the period. Glenmede Trust Co. NA raised its holdings in Blackbaud by 13.4% in the third quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company's stock valued at $607,000 after acquiring an additional 846 shares in the last quarter. State Street Corp lifted its stake in Blackbaud by 3.5% in the third quarter. State Street Corp now owns 1,647,284 shares of the technology company's stock worth $139,492,000 after acquiring an additional 56,090 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock worth $36,332,000 after acquiring an additional 154,019 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

Blackbaud Stock Down 2.3 %

BLKB traded down $1.45 on Friday, reaching $62.20. The company's stock had a trading volume of 423,557 shares, compared to its average volume of 235,539. 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 fifty-two week low of $61.17 and a fifty-two week high of $88.95. The stock has a 50 day moving average of $69.18 and a two-hundred day moving average of $76.74. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.54 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. As a group, analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, Blackbaud has a consensus 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.