Sei Investments Co. Boosts Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Sei Investments Co. lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,898 shares of the technology company’s stock after buying an additional 450 shares during the quarter. Sei Investments Co. owned about 0.05% of Blackbaud worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vestcor Inc purchased a new position in Blackbaud during the fourth quarter valued at $75,000. TD Private Client Wealth LLC increased its stake 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 acquiring an additional 347 shares in the last quarter. 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 valued at $124,000 after acquiring an additional 424 shares during the period. Blue Trust Inc. boosted its stake 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 acquiring an additional 333 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Blackbaud in the fourth quarter worth about $216,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

BLKB opened at $62.20 on Friday. Blackbaud, Inc. has a 1 year low of $61.17 and a 1 year high of $88.95. The stock has a 50-day moving average price of $69.18 and a 200-day moving average price of $76.79. The firm has a market cap of $3.06 billion, a PE ratio of -10.54 and a beta of 1.08. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last issued its 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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Sell-side 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 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.