Intech Investment Management LLC Boosts Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Intech Investment Management LLC lifted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 230.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,589 shares of the technology company’s stock after acquiring an additional 29,010 shares during the quarter. Intech Investment Management LLC owned 0.08% of Blackbaud worth $3,074,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BLKB. 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 worth $1,601,000 after acquiring an additional 1,492 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Blackbaud by 1,322.2% during the 3rd quarter. Quest Partners LLC now owns 6,073 shares of the technology company’s stock worth $514,000 after acquiring an additional 5,646 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud during the 3rd quarter worth about $142,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blackbaud by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company’s stock worth $34,751,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Blackbaud by 37.8% during the 3rd quarter. Citigroup Inc. now owns 72,036 shares of the technology company’s stock worth $6,100,000 after acquiring an additional 19,749 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Trading Up 1.2 %

Shares of Blackbaud stock opened at $64.63 on Thursday. The firm has a market capitalization of $3.18 billion, a PE ratio of -10.95 and a beta of 1.08. Blackbaud, Inc. has a twelve month low of $62.99 and a twelve month high of $88.95. The firm’s 50-day moving average price is $72.48 and its 200 day moving average price is $78.45. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results 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 company had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.