M&T Bank Corp Sells 950 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

M&T Bank Corp reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,243 shares of the technology company’s stock after selling 950 shares during the quarter. M&T Bank Corp’s holdings in Blackbaud were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BLKB. State of New Jersey Common Pension Fund D grew its position in shares of Blackbaud by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after buying an additional 151 shares during the period. Heritage Family Offices LLP boosted its stake in Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after acquiring an additional 166 shares during the last quarter. Brookstone Capital Management grew its holdings in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after acquiring an additional 275 shares during the period. Blue Trust Inc. raised its position 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 acquiring an additional 333 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Blackbaud by 42.0% in 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 period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Trading Up 1.7 %

BLKB opened at $65.73 on Monday. The firm’s fifty day moving average is $74.03 and its two-hundred day moving average is $79.41. The firm has a market cap of $3.24 billion, a PE ratio of -11.14 and a beta of 1.08. Blackbaud, Inc. has a twelve month low of $63.69 and a twelve month high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last issued 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 positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Equities research analysts anticipate that Blackbaud, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

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