Rhumbline Advisers Sells 838 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Rhumbline Advisers reduced its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,728 shares of the technology company’s stock after selling 838 shares during the quarter. Rhumbline Advisers owned 0.26% of Blackbaud worth $9,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of 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 purchasing an additional 151 shares in the last quarter. Heritage Family Offices LLP lifted its position in 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 last quarter. Brookstone Capital Management grew its stake in Blackbaud by 3.7% in the 4th 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. increased its holdings in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Up 1.0 %

BLKB opened at $68.90 on Tuesday. Blackbaud, Inc. has a 12 month low of $66.07 and a 12 month 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’s 50-day moving average price is $75.95 and its 200-day moving average price is $80.15. The company has a market cap of $3.39 billion, a P/E ratio of -11.68 and a beta of 1.08.

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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. On average, equities analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

BLKB has been the subject of several research reports. Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Blackbaud currently has a consensus rating of “Hold” and an average price target 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.