Pinebridge Investments L.P. Boosts Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Pinebridge Investments L.P. increased its holdings in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,526 shares of the technology company's stock after buying an additional 6,739 shares during the period. Pinebridge Investments L.P.'s holdings in Blackbaud were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Blackbaud by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company's stock worth $75,393,000 after acquiring an additional 3,119 shares during the period. Bank of New York Mellon Corp lifted its holdings in Blackbaud by 41.0% during 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 in the last quarter. Norges Bank purchased a new stake in Blackbaud during the 4th quarter worth about $34,168,000. Charles Schwab Investment Management Inc. boosted its stake in 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 grew its holdings in Blackbaud by 28.7% during the 4th quarter. First Trust Advisors LP now owns 356,243 shares of the technology company's stock valued at $26,333,000 after buying an additional 79,369 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded up $0.31 during midday trading on Friday, hitting $61.40. 386,244 shares of the company's stock were exchanged, compared to its average volume of 238,714. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The business's fifty day moving average price is $62.96 and its two-hundred day moving average price is $73.47. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -10.41 and a beta of 1.04. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly 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 negative net margin of 24.83% and a positive return on equity of 26.30%. The firm had revenue of $270.66 million for the quarter, compared to analyst estimates of $268.53 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLKB shares. Robert W. Baird lowered their price target on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus decreased their target price on shares of Blackbaud from $75.00 to $65.00 and set a "hold" rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.67.

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.