Occudo Quantitative Strategies LP Invests $581,000 in Blackbaud, Inc. (NASDAQ:BLKB)

Occudo Quantitative Strategies LP acquired a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,859 shares of the technology company's stock, valued at approximately $581,000.

Several other large investors have also modified their holdings of the stock. Entropy Technologies LP acquired a new stake in shares of Blackbaud during the fourth quarter worth $377,000. Tributary Capital Management LLC boosted its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock worth $21,670,000 after buying an additional 3,739 shares during the period. Cibc World Markets Corp purchased a new position in shares of Blackbaud in the fourth quarter worth approximately $280,000. Blue Trust Inc. increased its position in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock worth $143,000 after acquiring an additional 333 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after acquiring an additional 140,273 shares during the period. 94.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Blackbaud news, SVP Jon W. Olson sold 10,698 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the transaction, the senior vice president now directly owns 23,799 shares of the company's stock, valued at $1,455,308.85. This represents a 31.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.95% of the stock is owned by corporate insiders.

Blackbaud Stock Down 0.4%

Shares of BLKB stock traded down $0.25 during trading on Tuesday, hitting $63.61. 29,943 shares of the company were exchanged, compared to its average volume of 297,671. The business's 50-day simple moving average is $62.52 and its 200 day simple moving average is $71.85. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -10.78 and a beta of 1.16. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $270.66 million during the quarter, compared to the consensus estimate of $268.53 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The company's revenue was down 3.1% compared to the same quarter last year. As a group, analysts forecast that Blackbaud, Inc. will post 3.05 EPS 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.