Mcmorgan & Co. LLC Has $4.05 Million Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Mcmorgan & Co. LLC reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,815 shares of the technology company’s stock after selling 474 shares during the period. Blackbaud makes up 0.6% of Mcmorgan & Co. LLC’s investment portfolio, making the stock its 22nd largest holding. Mcmorgan & Co. LLC owned about 0.11% of Blackbaud worth $4,052,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vestcor Inc acquired a new position in shares of Blackbaud during the fourth quarter valued at about $75,000. KBC Group NV increased 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 worth $124,000 after purchasing an additional 424 shares in the last quarter. Huntington National Bank raised its stake in shares of Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock worth $138,000 after purchasing an additional 227 shares during the last quarter. Blue Trust Inc. grew its holdings in Blackbaud by 20.9% during 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Blackbaud by 31.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,069 shares of the technology company’s stock valued at $154,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Trading Up 1.0 %

NASDAQ:BLKB opened at $62.02 on Friday. 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 firm’s 50 day moving average is $65.09 and its 200 day moving average is $74.90. The stock has a market capitalization of $3.05 billion, a PE ratio of -10.51 and a beta of 1.04.

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 the consensus estimate of $1.08 by ($0.50). The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

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.