Zurcher Kantonalbank Zurich Cantonalbank Has $804,000 Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,875 shares of the technology company’s stock after buying an additional 1,676 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blackbaud were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in shares of 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 in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $35,671,000 after purchasing an additional 140,273 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Blackbaud by 56.0% during the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Blackbaud by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock valued at $30,505,000 after purchasing an additional 2,298 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.33.

Blackbaud Price Performance

BLKB opened at $63.13 on Friday. Blackbaud, Inc. has a one year low of $62.76 and a one year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The company’s 50 day simple moving average is $72.02 and its 200-day simple moving average is $78.21. The stock has a market capitalization of $3.11 billion, a P/E ratio of -10.70 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced 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 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 the consensus estimate of $303.41 million. Sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

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.