ArrowMark Colorado Holdings LLC Buys 45,835 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,329,308 shares of the technology company's stock after buying an additional 45,835 shares during the quarter. Blackbaud makes up approximately 1.3% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 22nd largest holding. ArrowMark Colorado Holdings LLC owned about 2.70% of Blackbaud worth $98,262,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Blackbaud by 170.4% during the third quarter. Barclays PLC now owns 80,557 shares of the technology company's stock valued at $6,821,000 after acquiring an additional 50,765 shares during the period. Franklin Resources Inc. raised its stake in shares of Blackbaud by 3.7% during the third quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock worth $1,261,000 after buying an additional 532 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Blackbaud by 3.2% during the 3rd 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 period. Brookstone Capital Management lifted its stake in shares of Blackbaud by 3.7% in the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock valued at $563,000 after purchasing an additional 275 shares during the period. Finally, Heritage Family Offices LLP grew its stake in shares of Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock worth $221,000 after purchasing an additional 166 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Stock Down 0.5 %

Shares of NASDAQ:BLKB traded down $0.33 during midday trading on Tuesday, reaching $62.21. 247,520 shares of the company were exchanged, compared to its average volume of 240,174. The stock has a fifty day simple moving average of $62.89 and a two-hundred day simple moving average of $73.21. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The firm has a market cap of $3.02 billion, a PE ratio of -10.54 and a beta of 1.16. 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 - Get Free Report) last posted 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 negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $270.66 million during the quarter, compared to the consensus estimate of $268.53 million. During the same period in the prior year, the business posted $0.93 EPS. The company's quarterly revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Activity

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total transaction of $654,182.70. Following the transaction, the senior vice president now owns 23,799 shares of the company's stock, valued at $1,455,308.85. The trade was a 31.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BLKB shares. Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $78.67.

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.