Becker Capital Management Inc. Sells 29,168 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Becker Capital Management Inc. lessened its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,486 shares of the technology company's stock after selling 29,168 shares during the quarter. Becker Capital Management Inc. owned approximately 0.19% of Blackbaud worth $7,058,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barclays PLC increased its holdings in Blackbaud by 170.4% in the 3rd quarter. Barclays PLC now owns 80,557 shares of the technology company's stock worth $6,821,000 after purchasing an additional 50,765 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Blackbaud by 3.7% in the third quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock valued at $1,261,000 after buying an additional 532 shares during the period. 272 Capital LP bought a new position in Blackbaud in the 3rd quarter valued at approximately $872,000. JPMorgan Chase & Co. boosted its position 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 buying an additional 7,097 shares during the period. Finally, Brookstone Capital Management grew its holdings in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock worth $563,000 after acquiring an additional 275 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Trading Up 0.5 %

Shares of BLKB traded up $0.31 during trading hours on Friday, hitting $61.40. 386,244 shares of the stock were exchanged, compared to its average volume of 238,878. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The business has a 50-day moving average of $62.96 and a 200-day moving average of $73.56. 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 capitalization of $2.98 billion, a P/E ratio of -10.41 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. The company had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The firm's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 EPS. On average, research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on BLKB. Robert W. Baird cut their price target 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. Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Blackbaud currently has an average rating of "Hold" and a consensus price target of $78.67.

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.