Edgestream Partners L.P. Makes New Investment in Blackbaud, Inc. (NASDAQ:BLKB)

Edgestream Partners L.P. acquired a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,110 shares of the technology company's stock, valued at approximately $689,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLKB. Versant Capital Management Inc increased its stake in Blackbaud by 127.4% in the 1st quarter. Versant Capital Management Inc now owns 523 shares of the technology company's stock worth $32,000 after acquiring an additional 293 shares during the last quarter. UMB Bank n.a. increased its stake in Blackbaud by 63.2% in the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares during the last quarter. Huntington National Bank increased its stake in Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock worth $138,000 after acquiring an additional 227 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Blackbaud by 31.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock worth $154,000 after acquiring an additional 499 shares during the last quarter. Finally, KBC Group NV increased its stake in Blackbaud by 31.8% in the 1st quarter. KBC Group NV now owns 2,209 shares of the technology company's stock worth $137,000 after acquiring an additional 533 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $78.67.

Insider Activity

In other Blackbaud news, CFO Chad Anderson sold 5,500 shares of Blackbaud stock in a transaction dated 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 owned 35,976 shares in the company, valued at approximately $2,302,104.24. This trade represents a 13.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $61.15, for a total value of $654,182.70. Following the transaction, the senior vice president owned 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. 1.97% of the stock is currently owned by insiders.

Blackbaud Stock Up 1.2%

Shares of BLKB traded up $0.80 during trading hours on Wednesday, hitting $65.83. The company had a trading volume of 157,421 shares, compared to its average volume of 248,302. The company has a market capitalization of $3.19 billion, a PE ratio of -11.16, a price-to-earnings-growth ratio of 4.84 and a beta of 1.14. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 35.64. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The company's fifty day moving average price is $63.30 and its two-hundred day moving average price is $66.43.

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, beating the consensus estimate of $0.90 by $0.06. Blackbaud had a positive return on equity of 38.58% and a negative net margin of 25.05%. The firm had revenue of $270.66 million during the quarter, compared to analyst estimates of $268.53 million. During the same quarter in the prior year, the business posted $0.93 EPS. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

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.