Wells Fargo & Company MN Grows Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Wells Fargo & Company MN increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,786 shares of the technology company’s stock after acquiring an additional 3,017 shares during the period. Wells Fargo & Company MN owned about 0.10% of Blackbaud worth $3,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $35,671,000 after purchasing an additional 140,273 shares in the last quarter. Norges Bank acquired a new position in shares of Blackbaud in the fourth quarter worth about $34,168,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Blackbaud by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock worth $30,505,000 after acquiring an additional 2,298 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Blackbaud by 44.3% during the 4th quarter. JPMorgan Chase & Co. now owns 325,637 shares of the technology company’s stock valued at $24,071,000 after acquiring an additional 100,003 shares during the period. Finally, Tributary Capital Management LLC increased its stake in shares of Blackbaud by 1.3% in the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after purchasing an additional 3,739 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Blackbaud Price Performance

NASDAQ:BLKB opened at $60.75 on Tuesday. The stock has a 50 day moving average of $64.73 and a two-hundred day moving average of $74.70. Blackbaud, Inc. has a 12 month low of $58.05 and a 12 month high of $88.95. The firm has a market cap of $2.99 billion, a P/E ratio of -10.30 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. On average, analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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