Bank of New York Mellon Corp Boosts Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Bank of New York Mellon Corp raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 41.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 482,561 shares of the technology company’s stock after acquiring an additional 140,273 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.98% of Blackbaud worth $35,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BLKB. State of New Jersey Common Pension Fund D grew its holdings in shares of Blackbaud by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after buying an additional 151 shares in the last quarter. Heritage Family Offices LLP grew its holdings 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 worth $221,000 after buying an additional 166 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after buying an additional 275 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Blackbaud by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Blackbaud by 42.0% during 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 in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Stock Up 1.7 %

Shares of NASDAQ:BLKB opened at $65.73 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a fifty day simple moving average of $74.21 and a 200 day simple moving average of $79.48. The firm has a market cap of $3.24 billion, a PE ratio of -11.14 and a beta of 1.08. Blackbaud, Inc. has a 12-month low of $63.69 and a 12-month high of $88.95.

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 business had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. On average, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.33.

About Blackbaud

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.