Credit Industriel ET Commercial Takes $580,000 Position in Blackbaud, Inc. (NASDAQ:BLKB)

Credit Industriel ET Commercial purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,847 shares of the technology company's stock, valued at approximately $580,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Blackbaud by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock valued at $75,393,000 after purchasing an additional 3,119 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after acquiring an additional 140,273 shares in the last quarter. Norges Bank acquired a new stake in shares of Blackbaud in the fourth quarter valued at about $34,168,000. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 2,298 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Blackbaud by 28.7% during the fourth quarter. First Trust Advisors LP now owns 356,243 shares of the technology company's stock valued at $26,333,000 after purchasing an additional 79,369 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report 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. Based on data from MarketBeat.com, Blackbaud currently has a consensus rating of "Hold" and a consensus target price of $85.33.

Blackbaud Trading Up 0.5 %

NASDAQ BLKB traded up $0.30 on Tuesday, hitting $64.15. The company's stock had a trading volume of 106,528 shares, compared to its average volume of 234,781. The company's 50-day moving average is $63.42 and its 200 day moving average is $74.04. The firm has a market cap of $3.11 billion, a PE ratio of -10.85 and a beta of 1.04. Blackbaud, Inc. has a 1-year low of $58.05 and a 1-year high of $88.95. 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 announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. As a group, analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Blackbaud 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.