UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 16,890 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,573 shares of the technology company's stock after acquiring an additional 16,890 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Blackbaud worth $7,213,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Robert W. Baird dropped their price objective on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $78.67.

Insider Activity

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.99, for a total transaction of $351,945.00. Following the completion of the transaction, the chief financial officer now directly owns 35,976 shares of the company's stock, valued at approximately $2,302,104.24. This trade represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 10,698 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company's stock.

Blackbaud Trading Up 0.2%

Shares of NASDAQ:BLKB traded up $0.12 during midday trading on Thursday, reaching $63.45. The company's stock had a trading volume of 191,592 shares, compared to its average volume of 240,415. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -10.75 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, Inc. has a 1 year low of $58.05 and a 1 year high of $88.95. The business has a 50 day moving average price of $62.33 and a 200 day moving average price of $70.15.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued 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 positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $270.66 million for the quarter, compared to analysts' expectations of $268.53 million. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The firm's quarterly revenue was down 3.1% on a year-over-year basis. Research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

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.