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

Rhumbline Advisers decreased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,728 shares of the technology company’s stock after selling 838 shares during the period. Rhumbline Advisers’ holdings in Blackbaud were worth $9,589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BLKB. Blue Trust Inc. boosted its position in shares of Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares in the last quarter. Angeles Wealth Management LLC bought a new stake in shares of Blackbaud during the 3rd quarter valued at $297,000. First Personal Financial Services grew its position in shares of Blackbaud by 25.9% in the 3rd quarter. First Personal Financial Services now owns 16,640 shares of the technology company’s stock worth $1,409,000 after buying an additional 3,424 shares during the period. Legacy Capital Wealth Partners LLC grew its position in shares of Blackbaud by 94.9% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 5,153 shares of the technology company’s stock worth $436,000 after buying an additional 2,509 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Blackbaud by 0.6% in the 3rd 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 acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 1.0 %

NASDAQ:BLKB opened at $68.90 on Tuesday. Blackbaud, Inc. has a 52 week low of $66.07 and a 52 week high of $88.95. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -11.68 and a beta of 1.08. The company’s 50 day moving average price is $75.95 and its 200-day moving average price is $80.15. 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 earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. On average, equities research analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.