Blackbaud, Inc. (NASDAQ:BLKB) Shares Bought by Aristides Capital LLC

Aristides Capital LLC raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,844 shares of the technology company’s stock after purchasing an additional 1,039 shares during the quarter. Aristides Capital LLC’s holdings in Blackbaud were worth $284,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BLKB. Norges Bank acquired a new position in Blackbaud in the fourth quarter valued at about $34,168,000. Wellington Management Group LLP boosted its position in shares of Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after purchasing an additional 154,019 shares during the period. Bank of New York Mellon Corp increased its holdings in Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after purchasing an additional 140,273 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Blackbaud by 63.5% during the fourth quarter. New York State Common Retirement Fund now owns 282,250 shares of the technology company’s stock worth $20,864,000 after purchasing an additional 109,630 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 44.3% during the fourth quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company’s stock worth $24,071,000 after buying an additional 100,003 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB stock opened at $62.20 on Monday. The firm has a 50 day moving average of $69.18 and a two-hundred day moving average of $76.74. The stock has a market capitalization of $3.06 billion, a PE ratio of -10.54 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. Blackbaud, Inc. has a 52 week low of $61.17 and a 52 week high of $88.95.

Blackbaud (NASDAQ:BLKB) 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). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. On average, research analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Blackbaud presently has an average 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.