Charles Schwab Investment Management Inc. Has $30.51 Million Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Charles Schwab Investment Management Inc. lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 412,673 shares of the technology company’s stock after buying an additional 2,298 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Blackbaud were worth $30,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its position in Blackbaud by 3.5% during the third quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after buying an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in Blackbaud by 22.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after buying an additional 235,859 shares during the last quarter. Bank of New York Mellon Corp increased its position in Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after buying an additional 140,273 shares during the last quarter. Wellington Management Group LLP increased its position in Blackbaud by 56.0% during the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares during the last quarter. Finally, Tributary Capital Management LLC increased its position in Blackbaud by 1.3% during the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock worth $21,670,000 after buying an additional 3,739 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price target 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Blackbaud currently has an average rating of “Hold” and a consensus target price of $85.33.

Blackbaud Trading Up 0.2 %

Shares of NASDAQ:BLKB opened at $63.45 on Monday. Blackbaud, Inc. has a 12-month low of $62.99 and a 12-month high of $88.95. The stock has a market cap of $3.12 billion, a PE ratio of -10.75 and a beta of 1.09. The business has a 50 day moving average of $73.13 and a 200-day moving average of $78.82. 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 (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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.