Blackbaud, Inc. (NASDAQ:BLKB) Stake Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in Blackbaud, Inc. (NASDAQ:BLKB) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,140 shares of the technology company’s stock after acquiring an additional 988 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Blackbaud worth $1,858,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its holdings in shares of Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares in the last quarter. KBC Group NV increased its holdings in Blackbaud by 33.9% in the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after buying an additional 424 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Blackbaud during the third quarter worth $142,000. Finally, Heritage Family Offices LLP increased its holdings in shares of Blackbaud by 5.9% during the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Trading Up 1.0 %

Shares of BLKB stock opened at $68.90 on Tuesday. 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, Inc. has a 1 year low of $66.07 and a 1 year high of $88.95. The firm’s fifty day simple moving average is $75.95 and its 200 day simple moving average is $80.15. The firm has a market capitalization of $3.39 billion, a P/E ratio of -11.68 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $303.41 million. As a group, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BLKB shares. Robert W. Baird dropped their price target 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. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.33.

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.