Huntington National Bank Acquires 227 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Huntington National Bank lifted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,864 shares of the technology company’s stock after acquiring an additional 227 shares during the period. Huntington National Bank’s holdings in Blackbaud were worth $138,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BLKB. Vestcor Inc purchased a new stake in Blackbaud during the fourth quarter valued at approximately $75,000. TD Private Client Wealth LLC increased its position in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares during the last quarter. KBC Group NV raised its holdings in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares during the period. Blue Trust Inc. lifted its position in Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Blackbaud by 31.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company’s stock worth $154,000 after buying an additional 499 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Price Performance

BLKB opened at $62.20 on Friday. The business has a fifty day moving average of $69.18 and a 200 day moving average of $76.79. The stock has a market cap of $3.06 billion, a P/E ratio of -10.54 and a beta of 1.08. 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 issued 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). The company had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackbaud currently 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.