Headlands Technologies LLC Boosts Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Headlands Technologies LLC boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 122.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,586 shares of the technology company’s stock after purchasing an additional 1,972 shares during the period. Headlands Technologies LLC’s holdings in Blackbaud were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Xponance Inc. raised its holdings in shares of Blackbaud by 2.4% during the fourth quarter. Xponance Inc. now owns 5,638 shares of the technology company’s stock valued at $417,000 after acquiring an additional 130 shares in the last quarter. Heritage Family Offices LLP raised its holdings in Blackbaud by 5.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after purchasing an additional 166 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Blackbaud by 3.7% in the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares during the period. Blue Trust Inc. boosted its stake in shares of Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after purchasing an additional 333 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Down 2.3 %

Shares of Blackbaud stock opened at $62.20 on Friday. Blackbaud, Inc. has a 1 year low of $61.17 and a 1 year high of $88.95. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -10.54 and a beta of 1.08. The company has a 50-day moving average of $69.18 and a 200 day moving average of $76.84. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

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 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 business had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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 research 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.com, Blackbaud currently has an average 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.