Northern Trust Corp Raises Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Northern Trust Corp boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 693,577 shares of the technology company's stock after purchasing an additional 57,941 shares during the quarter. Northern Trust Corp owned about 1.41% of Blackbaud worth $51,269,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Blackbaud by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock worth $75,393,000 after purchasing an additional 3,119 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock worth $35,671,000 after purchasing an additional 140,273 shares during the period. Norges Bank purchased a new position in shares of Blackbaud in the 4th quarter worth approximately $34,168,000. Charles Schwab Investment Management Inc. boosted its holdings 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 period. Finally, First Trust Advisors LP boosted its holdings in shares of Blackbaud by 28.7% in the 4th quarter. First Trust Advisors LP now owns 356,243 shares of the technology company's stock worth $26,333,000 after purchasing an additional 79,369 shares during the period. Institutional investors own 94.21% of the company's stock.

Analysts Set New Price Targets

BLKB has been the subject of a number of recent research reports. Stifel Nicolaus dropped their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company 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 for the company 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 stock. According to MarketBeat, Blackbaud presently has a consensus rating of "Hold" and an average target price of $78.67.

Insiders Place Their Bets

In related news, SVP Jon W. Olson sold 10,698 shares of the 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 sale, the senior vice president now owns 23,799 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 1.95% of the stock is currently owned by company insiders.

Blackbaud Stock Performance

Shares of BLKB traded up $1.18 during mid-day trading on Monday, reaching $64.56. The company had a trading volume of 81,337 shares, compared to its average volume of 240,572. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The stock has a market capitalization of $3.13 billion, a P/E ratio of -10.94 and a beta of 1.16. The stock has a 50 day moving average of $62.73 and a two-hundred day moving average of $72.57.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results 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 firm had revenue of $270.66 million for the quarter, compared to the consensus estimate of $268.53 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company's revenue was down 3.1% compared to the same quarter last year. On average, analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.