Penn Capital Management Company LLC Purchases Shares of 143,139 Blackbaud, Inc. (NASDAQ:BLKB)

Penn Capital Management Company LLC purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 143,139 shares of the technology company's stock, valued at approximately $10,581,000. Penn Capital Management Company LLC owned about 0.29% of Blackbaud as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLKB. Vestcor Inc bought a new position in Blackbaud during the 4th quarter worth approximately $75,000. KBC Group NV grew its position in shares of Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock worth $124,000 after buying an additional 424 shares during the period. Huntington National Bank lifted its position in 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 acquiring an additional 227 shares during the period. Blue Trust Inc. grew its holdings in 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 purchasing an additional 333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Blackbaud by 31.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company's stock valued at $154,000 after purchasing an additional 499 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Stock Down 0.0 %

Shares of NASDAQ BLKB traded down $0.02 during midday trading on Tuesday, hitting $63.84. The stock had a trading volume of 93,556 shares, compared to its average volume of 234,711. The business's 50 day moving average is $63.42 and its 200-day moving average is $74.04. 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 company has a market cap of $3.10 billion, a P/E ratio of -10.82 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. As a group, analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $85.33.

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.