Blue Trust Inc. Sells 567 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Blue Trust Inc. cut its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 35.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,030 shares of the technology company’s stock after selling 567 shares during the quarter. Blue Trust Inc.’s holdings in Blackbaud were worth $76,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock valued at $4,770,000 after buying an additional 19,270 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Blackbaud in the fourth quarter valued at about $377,000. JPMorgan Chase & Co. raised its holdings in shares of Blackbaud by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock valued at $19,107,000 after buying an additional 7,097 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after buying an additional 3,739 shares during the last quarter. Finally, Simcoe Capital Management LLC bought a new position in shares of Blackbaud in the third quarter valued at about $5,987,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BLKB. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird cut their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.33.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB opened at $68.24 on Monday. The stock has a market capitalization of $3.36 billion, a P/E ratio of -11.57 and a beta of 1.08. Blackbaud, Inc. has a 1-year low of $66.07 and a 1-year high of $88.95. 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 business has a 50-day moving average price of $76.14 and a two-hundred day moving average price of $80.21.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data 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). 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 analysts predict that Blackbaud, Inc. will post 3.05 earnings per share 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.