Pinebridge Investments L.P. Grows Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Pinebridge Investments L.P. grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 42.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,526 shares of the technology company’s stock after buying an additional 6,739 shares during the period. Pinebridge Investments L.P.’s holdings in Blackbaud were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Entropy Technologies LP purchased a new position in Blackbaud in the fourth quarter worth about $377,000. JPMorgan Chase & Co. boosted its holdings in shares of Blackbaud by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after purchasing an additional 7,097 shares during the period. Tributary Capital Management LLC increased its position in shares of Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after purchasing an additional 3,739 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Blackbaud during the 4th quarter valued at $280,000. Finally, 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. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Stock Performance

BLKB stock opened at $63.77 on Monday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -10.81 and a beta of 1.04. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40. The business’s fifty day simple moving average is $63.51 and its two-hundred day simple moving average is $74.18.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data 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 company had revenue of $302.23 million during 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%. Analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackbaud currently 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.