Blackbaud, Inc. (NASDAQ:BLKB) Stock Holdings Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1,349.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,375 shares of the technology company’s stock after purchasing an additional 9,659 shares during the period. Russell Investments Group Ltd.’s holdings in Blackbaud were worth $767,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BLKB. Norges Bank bought a new position in shares of Blackbaud in the 4th quarter worth about $34,168,000. Bank of New York Mellon Corp boosted its stake in Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after acquiring an additional 140,273 shares during the period. New York State Common Retirement Fund grew its holdings in shares of 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 valued at $20,864,000 after purchasing an additional 109,630 shares during the last quarter. JPMorgan Chase & Co. raised 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 worth $24,071,000 after purchasing an additional 100,003 shares during the period. Finally, Calamos Advisors LLC bought a new stake in shares of Blackbaud in the 4th quarter worth approximately $6,745,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $61.43 on Wednesday. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a market cap of $3.02 billion, a PE ratio of -10.41 and a beta of 1.04. The stock has a 50 day simple moving average of $64.34 and a 200-day simple moving average of $74.61.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results 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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. On average, equities research analysts forecast that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their target price 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 company. Based on data from MarketBeat.com, Blackbaud presently has an average rating of “Hold” and an average target price of $85.33.

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.