Blackbaud, Inc. (NASDAQ:BLKB) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,905 shares of the technology company’s stock after purchasing an additional 1,940 shares during the period. LPL Financial LLC’s holdings in Blackbaud were worth $954,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in Blackbaud during the fourth quarter worth $628,000. Sei Investments Co. boosted its position in shares of Blackbaud by 1.7% during the 4th quarter. Sei Investments Co. now owns 26,898 shares of the technology company’s stock valued at $1,988,000 after purchasing an additional 450 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Blackbaud during the fourth quarter worth $243,000. Xponance Inc. lifted its position in shares of Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after acquiring an additional 130 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Blackbaud by 230.6% during the fourth quarter. Intech Investment Management LLC now owns 41,589 shares of the technology company’s stock worth $3,074,000 after purchasing an additional 29,010 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Performance

BLKB opened at $62.02 on Monday. 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 stock’s 50 day moving average price is $65.09 and its two-hundred day moving average price is $74.86. The firm has a market capitalization of $3.05 billion, a P/E ratio of -10.51 and a beta of 1.04. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly 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 positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. On average, equities analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird dropped 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Blackbaud has an average rating of “Hold” and an average price target of $85.33.

About Blackbaud

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.