Handelsbanken Fonder AB Grows Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Handelsbanken Fonder AB increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,730 shares of the technology company’s stock after buying an additional 900 shares during the period. Handelsbanken Fonder AB’s holdings in Blackbaud were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky raised its position in Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after acquiring an additional 19,270 shares during the last quarter. Entropy Technologies LP acquired a new position in Blackbaud during the fourth quarter worth about $377,000. JPMorgan Chase & Co. raised its position in Blackbaud by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after acquiring an additional 7,097 shares during the last quarter. Tributary Capital Management LLC raised its position in Blackbaud by 1.3% during the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock worth $21,670,000 after acquiring an additional 3,739 shares during the last quarter. Finally, Simcoe Capital Management LLC acquired a new position in Blackbaud during the third quarter worth about $5,987,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $66.10 on Friday. The firm has a 50 day simple moving average of $75.12 and a 200-day simple moving average of $79.82. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market cap of $3.25 billion, a PE ratio of -11.20 and a beta of 1.08. Blackbaud, Inc. has a 1-year low of $64.94 and a 1-year high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data 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). The firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. On average, equities analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Wall Street Analyst Weigh In

Separately, 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Blackbaud presently has an average rating of “Hold” and a consensus price target 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.