Raymond James Financial Inc. Purchases Shares of 88,554 Blackbaud, Inc. (NASDAQ:BLKB)

Raymond James Financial Inc. bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 88,554 shares of the technology company's stock, valued at approximately $6,546,000. Raymond James Financial Inc. owned 0.18% of Blackbaud as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Blackbaud by 170.4% in the third quarter. Barclays PLC now owns 80,557 shares of the technology company's stock valued at $6,821,000 after acquiring an additional 50,765 shares during the period. Franklin Resources Inc. grew its position in Blackbaud by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company's stock worth $1,261,000 after acquiring an additional 532 shares during the last quarter. 272 Capital LP acquired a new position in Blackbaud in the third quarter worth $872,000. JPMorgan Chase & Co. lifted its position in Blackbaud by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock worth $19,107,000 after buying an additional 7,097 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock worth $563,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 94.21% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price target on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Blackbaud currently has an average rating of "Hold" and an average target price of $85.33.

Blackbaud Trading Up 0.2 %

Shares of Blackbaud stock traded up $0.14 on Tuesday, hitting $63.99. 37,014 shares of the company's stock traded hands, compared to its average volume of 234,486. The firm's 50-day moving average price is $63.42 and its two-hundred day moving average price is $74.04. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The stock has a market capitalization of $3.10 billion, a PE ratio of -10.85 and a beta of 1.04.

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

Blackbaud Company 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.