Gardner Lewis Asset Management L P Reduces Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Gardner Lewis Asset Management L P cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the technology company’s stock after selling 325 shares during the period. Gardner Lewis Asset Management L P’s holdings in Blackbaud were worth $517,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc acquired a new position in Blackbaud during the fourth quarter worth about $75,000. TD Private Client Wealth LLC raised its position in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the last quarter. KBC Group NV lifted its stake in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares in the last quarter. Blue Trust Inc. grew its holdings in Blackbaud by 20.9% during the 4th 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Blackbaud by 31.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company’s stock worth $154,000 after buying an additional 499 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Up 0.0 %

Shares of NASDAQ BLKB opened at $62.32 on Friday. The firm’s 50 day moving average price is $70.92 and its 200 day moving average price is $77.66. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market cap of $3.07 billion, a P/E ratio of -10.56 and a beta of 1.08. Blackbaud, Inc. has a 1 year low of $61.23 and a 1 year high of $88.95.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Blackbaud Company 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.