Two Sigma Advisers LP bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, HoldingsChannel reports. The fund bought 2,300 shares of the technology company’s stock, valued at approximately $217,000.
Several other hedge funds have also recently made changes to their positions in BLKB. Wells Fargo & Company MN boosted its stake in shares of Blackbaud by 14.5% in the third quarter. Wells Fargo & Company MN now owns 70,600 shares of the technology company’s stock valued at $6,198,000 after purchasing an additional 8,933 shares during the period. California Public Employees Retirement System boosted its stake in Blackbaud by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 72,366 shares of the technology company’s stock valued at $6,354,000 after acquiring an additional 4,366 shares during the last quarter. Atlantic Trust Group LLC bought a new position in Blackbaud during the 3rd quarter valued at $1,839,000. Schwab Charles Investment Management Inc. boosted its stake in Blackbaud by 11.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 240,146 shares of the technology company’s stock valued at $22,692,000 after acquiring an additional 24,894 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Blackbaud during the 4th quarter valued at $534,000.
BLKB has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Zacks Investment Research downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Stifel Nicolaus increased their price objective on shares of Blackbaud from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 22nd. ValuEngine upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, DA Davidson initiated coverage on shares of Blackbaud in a research note on Friday, February 2nd. They set a “neutral” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Blackbaud presently has a consensus rating of “Hold” and an average target price of $102.86.
Shares of NASDAQ:BLKB opened at $105.05 on Thursday. The firm has a market cap of $5,155.89, a price-to-earnings ratio of 65.65, a price-to-earnings-growth ratio of 5.43 and a beta of 0.65. Blackbaud, Inc. has a 1-year low of $75.93 and a 1-year high of $116.07. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.81 and a current ratio of 0.81.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $216.98 million for the quarter, compared to analysts’ expectations of $217.29 million. Blackbaud had a net margin of 8.36% and a return on equity of 29.21%. equities research analysts anticipate that Blackbaud, Inc. will post 2.06 EPS for the current year.
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Blackbaud Company Profile
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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