Principal Financial Group Inc. Has $7.49 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

Principal Financial Group Inc. lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,330 shares of the technology company’s stock after selling 1,275 shares during the period. Principal Financial Group Inc. owned 0.21% of Blackbaud worth $7,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC grew its holdings in Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares during the period. KBC Group NV grew its holdings in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares during the period. Meeder Asset Management Inc. acquired a new stake in Blackbaud during the 3rd quarter worth $142,000. Blue Trust Inc. grew its holdings in 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 acquiring an additional 333 shares during the period. Finally, Heritage Family Offices LLP grew its holdings in Blackbaud by 5.9% during the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four research 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 company currently has an average rating of “Hold” and an average price target of $85.33.

Blackbaud Trading Up 1.5 %

Shares of NASDAQ BLKB opened at $66.10 on Friday. The company’s fifty day moving average is $75.12 and its 200-day moving average is $79.85. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -11.20 and a beta of 1.08. Blackbaud, Inc. has a twelve month low of $64.94 and a twelve month high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last announced 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). The firm had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Equities research analysts predict that Blackbaud, Inc. will post 3.05 EPS 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.