Cubist Systematic Strategies LLC Makes New $1.44 Million Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Cubist Systematic Strategies LLC acquired a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,537 shares of the technology company's stock, valued at approximately $1,444,000.

Other hedge funds also recently modified their holdings of the company. Entropy Technologies LP bought a new stake in shares of Blackbaud in the 4th quarter worth approximately $377,000. Tributary Capital Management LLC lifted its position in shares of Blackbaud by 1.3% in the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock worth $21,670,000 after acquiring an additional 3,739 shares during the period. Cibc World Markets Corp bought a new stake in shares of Blackbaud in the 4th quarter worth approximately $280,000. Blue Trust Inc. raised its holdings in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after buying an additional 333 shares in the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $35,671,000 after buying an additional 140,273 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Trading Up 1.8%

NASDAQ:BLKB opened at $64.55 on Tuesday. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. 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 stock has a market capitalization of $3.13 billion, a PE ratio of -10.94 and a beta of 1.16. The business's 50-day simple moving average is $62.72 and its 200-day simple moving average is $72.42.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $268.53 million. During the same quarter last year, the firm earned $0.93 EPS. Blackbaud's revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 23,799 shares in the company, valued at approximately $1,455,308.85. This represents a 31.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.95% of the company's stock.

Analysts Set New Price Targets

BLKB has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently 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.

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