Oxford Asset Management LLP Invests $601,000 in Blackbaud, Inc. (NASDAQ:BLKB)

Oxford Asset Management LLP acquired a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,133 shares of the technology company's stock, valued at approximately $601,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Blackbaud by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock worth $75,393,000 after purchasing an additional 3,119 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $35,671,000 after purchasing an additional 140,273 shares in the last quarter. Norges Bank acquired a new position in Blackbaud during the fourth quarter worth $34,168,000. Charles Schwab Investment Management Inc. lifted its stake 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 worth $30,505,000 after purchasing an additional 2,298 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Blackbaud by 28.7% during the fourth quarter. First Trust Advisors LP now owns 356,243 shares of the technology company's stock worth $26,333,000 after purchasing an additional 79,369 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Four equities research 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, Blackbaud currently has an average rating of "Hold" and an average price target of $85.33.

Blackbaud Stock Down 5.5 %

NASDAQ:BLKB traded down $3.52 during midday trading on Wednesday, reaching $60.54. The company had a trading volume of 551,660 shares, compared to its average volume of 236,828. Blackbaud, Inc. has a 12-month low of $52.16 and a 12-month high of $88.95. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -10.26 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The stock's fifty day simple moving average is $63.37 and its 200-day simple moving average is $73.97.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $270.66 million during the quarter, compared to the consensus estimate of $268.53 million. During the same period in the previous year, the company posted $0.93 earnings per share. The business's revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

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.