Swiss National Bank Increases Position in Blackbaud, Inc. (NASDAQ:BLKB)

Swiss National Bank boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,153 shares of the technology company’s stock after purchasing an additional 500 shares during the period. Swiss National Bank’s holdings in Blackbaud were worth $5,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake in shares of Blackbaud by 8.6% during the 3rd quarter. Natixis Advisors LLC now owns 18,912 shares of the technology company’s stock valued at $1,601,000 after buying an additional 1,492 shares during the last quarter. Quest Partners LLC boosted its stake in Blackbaud by 1,322.2% during the 3rd quarter. Quest Partners LLC now owns 6,073 shares of the technology company’s stock valued at $514,000 after acquiring an additional 5,646 shares during the last quarter. Intech Investment Management LLC grew its holdings in Blackbaud by 48.4% during the 3rd quarter. Intech Investment Management LLC now owns 12,579 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 4,103 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Blackbaud by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company’s stock worth $34,751,000 after purchasing an additional 2,934 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Blackbaud by 37.8% in the 3rd quarter. Citigroup Inc. now owns 72,036 shares of the technology company’s stock valued at $6,100,000 after purchasing an additional 19,749 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Down 1.3 %

BLKB stock opened at $63.13 on Monday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -10.70 and a beta of 1.08. Blackbaud, Inc. has a 1-year low of $62.76 and a 1-year high of $88.95. The firm has a fifty day moving average price of $72.02 and a two-hundred day moving average price of $78.16. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share 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 for the quarter, compared to the consensus estimate of $303.41 million. Research analysts predict that Blackbaud, Inc. will post 3.05 EPS 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.