Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P lowered its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the technology company’s stock after selling 325 shares during the period. Gardner Lewis Asset Management L P’s holdings in Blackbaud were worth $517,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BLKB. Norges Bank acquired a new position in shares of Blackbaud during the 4th quarter worth about $34,168,000. ArrowMark Colorado Holdings LLC boosted its holdings in Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after purchasing an additional 235,859 shares in the last quarter. Wellington Management Group LLP increased its stake in Blackbaud by 56.0% in 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. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 140,273 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Blackbaud by 63.5% during the 4th quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company’s stock worth $20,864,000 after buying an additional 109,630 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Price Performance

Shares of BLKB opened at $62.32 on Friday. The firm has a 50-day simple moving average of $70.92 and a 200-day simple moving average of $77.66. Blackbaud, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $88.95. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -10.56 and a beta of 1.08. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

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 during the quarter, compared to analysts’ expectations of $303.41 million. On average, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current 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.