Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,367 shares of the technology company’s stock after selling 1,545 shares during the quarter. Natixis Advisors LLC’s holdings in Blackbaud were worth $1,284,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC lifted its stake in Blackbaud by 48.4% in the 3rd quarter. Intech Investment Management LLC now owns 12,579 shares of the technology company’s stock valued at $1,065,000 after buying an additional 4,103 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Blackbaud by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company’s stock valued at $34,751,000 after acquiring an additional 2,934 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Blackbaud by 37.8% during the third quarter. Citigroup Inc. now owns 72,036 shares of the technology company’s stock valued at $6,100,000 after acquiring an additional 19,749 shares during the last quarter. BNP Paribas Financial Markets increased its position in Blackbaud by 17.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 3,533 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Blackbaud by 13.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company’s stock valued at $607,000 after purchasing an additional 846 shares during the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Blackbaud Stock Up 0.4 %

Shares of BLKB opened at $62.13 on Wednesday. Blackbaud, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $88.95. The company’s fifty day moving average is $71.50 and its two-hundred day moving average is $77.88. The firm has a market cap of $3.06 billion, a PE ratio of -10.53 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

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 analysts’ consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.33.

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.