Y Intercept Hong Kong Ltd Takes Position in Blackbaud, Inc. (NASDAQ:BLKB)

Y Intercept Hong Kong Ltd purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,922 shares of the technology company’s stock, valued at approximately $216,000.

Several other large investors have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC boosted 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 worth $99,000 after buying an additional 347 shares during the period. KBC Group NV lifted its position 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in Blackbaud in the 3rd quarter worth approximately $142,000. Blue Trust Inc. grew its position in Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares in the last quarter. Finally, Heritage Family Offices LLP raised its stake in shares of Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after purchasing an additional 166 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Price Performance

BLKB stock opened at $64.05 on Wednesday. The stock’s 50 day moving average is $74.67 and its two-hundred day moving average is $79.69. Blackbaud, Inc. has a 52-week low of $63.87 and a 52-week high of $88.95. The company has a market capitalization of $3.15 billion, a PE ratio of -10.86 and a beta of 1.08. 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 posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). The company had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their target price on shares of 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 given a buy rating to the stock. Based on data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and a consensus target price 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.