Nomura Holdings Inc. Acquires New Shares in Blackbaud, Inc. (NASDAQ:BLKB)

Nomura Holdings Inc. bought a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 5,191 shares of the technology company's stock, valued at approximately $384,000.

Several other hedge funds have also modified their holdings of the stock. Xponance Inc. raised its holdings in shares of Blackbaud by 2.4% during the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company's stock valued at $417,000 after buying an additional 130 shares during the period. Huntington National Bank raised its holdings 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 buying an additional 227 shares during the period. Blue Trust Inc. raised its holdings 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 buying an additional 333 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Blackbaud by 10.7% during the 4th quarter. EP Wealth Advisors LLC now owns 3,843 shares of the technology company's stock valued at $284,000 after buying an additional 372 shares during the period. Finally, KBC Group NV raised its holdings 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 buying an additional 424 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Blackbaud Stock Up 1.8%

BLKB stock traded up $1.09 during midday trading on Tuesday, hitting $62.21. 227,164 shares of the company's stock were exchanged, compared to its average volume of 240,581. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The firm has a 50 day moving average price of $62.29 and a 200-day moving average price of $71.11. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -10.54 and a beta of 1.16.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted 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. 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 the consensus estimate of $268.53 million. During the same period in the previous year, the business earned $0.93 EPS. Blackbaud's revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Chad Anderson sold 5,500 shares of Blackbaud stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the transaction, the chief financial officer now owns 35,976 shares in the company, valued at approximately $2,302,104.24. This trade represents a 13.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of Blackbaud stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 23,799 shares of the company's stock, valued at approximately $1,455,308.85. The trade was a 31.01% decrease in their position. The disclosure for this sale can be found here. 1.95% of the stock is owned by company insiders.

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.