MQS Management LLC Acquires New Stake in Blackbaud, Inc. (NASDAQ:BLKB)

MQS Management LLC acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,702 shares of the technology company's stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Blackbaud by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company's stock worth $30,505,000 after purchasing an additional 2,298 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Blackbaud by 3.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company's stock valued at $1,094,000 after purchasing an additional 519 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Blackbaud during the 4th quarter valued at about $6,546,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Blackbaud by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,875 shares of the technology company's stock valued at $804,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Blackbaud by 0.6% during the 4th quarter. Swiss National Bank now owns 81,153 shares of the technology company's stock valued at $5,999,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $0.01 during mid-day trading on Friday, reaching $63.97. 69,745 shares of the company traded hands, compared to its average volume of 289,274. Blackbaud, Inc. has a 52 week low of $58.05 and a 52 week high of $88.95. The company has a debt-to-equity ratio of 35.64, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $3.10 billion, a PE ratio of -10.85, a PEG ratio of 4.73 and a beta of 1.14. The company's 50 day moving average price is $63.27 and its 200-day moving average price is $66.68.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. The business had revenue of $270.66 million for the quarter, compared to analysts' expectations of $268.53 million. Blackbaud had a positive return on equity of 38.58% and a negative net margin of 25.05%. The company's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. On average, equities analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the sale, the senior vice president owned 23,799 shares in the company, valued at $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Chad Anderson sold 5,500 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the transaction, the chief financial officer owned 35,976 shares in the company, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.97% of the company's stock.

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.