Vanguard Group Inc. Purchases 9,736 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Vanguard Group Inc. increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,790,603 shares of the technology company’s stock after purchasing an additional 9,736 shares during the period. Vanguard Group Inc. owned 11.76% of Blackbaud worth $428,041,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its holdings in Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock valued at $4,770,000 after acquiring an additional 19,270 shares during the period. Entropy Technologies LP bought a new stake in Blackbaud during the 4th quarter valued at approximately $377,000. JPMorgan Chase & Co. lifted its holdings in Blackbaud by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after purchasing an additional 7,097 shares in the last quarter. Tributary Capital Management LLC grew its holdings in Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after buying an additional 3,739 shares in the last quarter. Finally, Blue Trust Inc. raised its position 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 valued at $143,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

Blackbaud stock opened at $63.48 on Wednesday. The company’s 50-day moving average price is $69.98 and its 200-day moving average price is $77.18. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The company has a market cap of $3.13 billion, a PE ratio of -10.76 and a beta of 1.08. Blackbaud, Inc. has a twelve month low of $61.20 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB) last issued 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 company 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%. On average, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.