Kesler Norman & Wride LLC Buys Shares of 8,480 Blackbaud, Inc. (NASDAQ:BLKB)

Kesler Norman & Wride LLC bought a new position in Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,480 shares of the technology company’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Blackbaud by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,375 shares of the technology company’s stock worth $34,751,000 after acquiring an additional 2,934 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Blackbaud by 17.3% during the third quarter. BNP Paribas Financial Markets now owns 23,948 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 3,533 shares during the period. Glenmede Trust Co. NA grew its position in Blackbaud by 13.4% during the third quarter. Glenmede Trust Co. NA now owns 7,169 shares of the technology company’s stock valued at $607,000 after purchasing an additional 846 shares in the last quarter. State Street Corp increased its stake in Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after buying an additional 56,090 shares during the period. Finally, Wellington Management Group LLP lifted its position in Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

NASDAQ BLKB opened at $63.82 on Thursday. 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 $3.14 billion, a PE ratio of -10.82 and a beta of 1.08. Blackbaud, Inc. has a 12-month low of $61.20 and a 12-month high of $88.95. The company has a 50 day moving average price of $69.71 and a two-hundred day moving average price of $77.09.

Blackbaud (NASDAQ:BLKB) 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 analyst estimates 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, equities analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird dropped 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and an average price target of $85.33.

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.