Quantbot Technologies LP Takes Position in Blackbaud, Inc. (NASDAQ:BLKB)

Quantbot Technologies LP purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,286 shares of the technology company’s stock, valued at approximately $243,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vestcor Inc acquired a new position in shares of Blackbaud during the fourth quarter worth about $75,000. TD Private Client Wealth LLC lifted its position in Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares in the last quarter. KBC Group NV boosted its holdings in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after acquiring an additional 424 shares during the period. Blue Trust Inc. grew its position in Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Blackbaud during the fourth quarter valued at approximately $216,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $62.11 on Friday. 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, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $88.95. The business has a 50 day moving average price of $70.60 and a two-hundred day moving average price of $77.50. The firm has a market cap of $3.06 billion, a PE ratio of -10.53 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results 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 company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal 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.