Cibc World Markets Corp Purchases New Position in Blackbaud, Inc. (NASDAQ:BLKB)

Cibc World Markets Corp purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,793 shares of the technology company’s stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestcor Inc acquired a new stake in Blackbaud in the 4th quarter valued at $75,000. TD Private Client Wealth LLC grew its position in shares of Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares during the period. KBC Group NV increased its stake in shares of Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after purchasing an additional 424 shares in the last quarter. Blue Trust Inc. raised its position in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after purchasing an additional 333 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Blackbaud in the 4th quarter valued at about $216,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.33.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $62.13 on Wednesday. The firm has a 50-day simple moving average of $71.50 and a 200-day simple moving average of $77.88. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -10.53 and a beta of 1.08. Blackbaud, Inc. has a 52 week low of $61.23 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last released 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 analyst estimates of $303.41 million. On average, equities analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

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.