Cubist Systematic Strategies LLC Takes $1.44 Million Position in Blackbaud, Inc. (NASDAQ:BLKB)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLKB. Vestcor Inc acquired a new position in Blackbaud in the 4th quarter valued at $75,000. KBC Group NV lifted its position in shares of Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after acquiring an additional 424 shares during the period. Huntington National Bank lifted its position in shares of Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after acquiring an additional 227 shares during the period. Blue Trust Inc. lifted its position in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after acquiring an additional 333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Blackbaud by 31.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after acquiring an additional 499 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jon W. Olson sold 10,698 shares of the business'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 sale, the senior vice president now directly owns 23,799 shares in the company, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.95% of the stock is currently owned by corporate insiders.

Blackbaud Price Performance

NASDAQ:BLKB traded up $0.64 during trading hours on Friday, hitting $64.46. The company's stock had a trading volume of 218,201 shares, compared to its average volume of 240,978. 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 company has a market capitalization of $3.13 billion, a P/E ratio of -10.93 and a beta of 1.16. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The stock has a fifty day simple moving average of $62.54 and a 200-day simple moving average of $71.94.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $0.96 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $268.53 million. During the same quarter last year, the firm posted $0.93 earnings per share. The firm's revenue was down 3.1% on a year-over-year basis. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BLKB has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Robert W. Baird reduced their price objective 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Blackbaud currently has a consensus rating of "Hold" and a consensus price target of $78.67.

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.