KLP Kapitalforvaltning AS Invests $628,000 in Blackbaud, Inc. (NASDAQ:BLKB)

KLP Kapitalforvaltning AS acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,500 shares of the technology company’s stock, valued at approximately $628,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vestcor Inc acquired a new stake in shares of Blackbaud during the 4th quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its stake in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV raised its holdings in Blackbaud by 33.9% during the fourth quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after purchasing an additional 424 shares during the last quarter. Blue Trust Inc. boosted its position in 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 purchasing an additional 333 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Blackbaud in the fourth quarter valued at $216,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 0.5 %

NASDAQ BLKB opened at $63.82 on Thursday. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -10.82 and a beta of 1.08. The company’s 50 day moving average price is $69.71 and its 200 day moving average price is $77.09. Blackbaud, Inc. has a one year low of $61.20 and a one year high of $88.95.

Blackbaud (NASDAQ:BLKB) last released 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). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. On average, sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note 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 presently has a consensus 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.