Avantax Advisory Services Inc. Has $858,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Avantax Advisory Services Inc. reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,606 shares of the technology company’s stock after selling 1,114 shares during the period. Avantax Advisory Services Inc.’s holdings in Blackbaud were worth $858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Blackbaud by 18.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,875 shares of the technology company’s stock worth $804,000 after buying an additional 1,676 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Blackbaud during the fourth quarter worth about $6,546,000. Victory Capital Management Inc. boosted its position in shares of Blackbaud by 3.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company’s stock worth $1,094,000 after buying an additional 519 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Blackbaud by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock valued at $30,505,000 after purchasing an additional 2,298 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after purchasing an additional 140,273 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $63.93 on Friday. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a 50 day moving average price of $72.25 and a 200 day moving average price of $78.35. The stock has a market capitalization of $3.15 billion, a PE ratio of -10.84 and a beta of 1.08. Blackbaud, Inc. has a 52 week low of $62.99 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data 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). The business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research 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 company. According to data from MarketBeat, Blackbaud has an average rating of “Hold” and an average 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.