Intech Investment Management LLC Grows Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Intech Investment Management LLC grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 230.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,589 shares of the technology company’s stock after purchasing an additional 29,010 shares during the quarter. Intech Investment Management LLC’s holdings in Blackbaud were worth $3,074,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vestcor Inc acquired a new position in Blackbaud in the fourth quarter valued at about $75,000. TD Private Client Wealth LLC boosted its position in 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 buying an additional 347 shares during the period. KBC Group NV grew its stake in shares of Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud during the third quarter worth $142,000. Finally, Blue Trust Inc. raised its stake in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $64.63 on Thursday. Blackbaud, Inc. has a one year low of $62.99 and a one year high of $88.95. The company has a market cap of $3.18 billion, a PE ratio of -10.95 and a beta of 1.08. 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 business has a 50-day simple moving average of $72.48 and a 200-day simple moving average of $78.45.

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 positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. 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 price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.