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

M&T Bank Corp reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLKB. State Street Corp raised its stake in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after buying an additional 56,090 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Blackbaud by 22.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after acquiring an additional 235,859 shares during the period. Geneva Capital Management LLC raised its position in Blackbaud by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after purchasing an additional 4,122 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Blackbaud by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock worth $35,671,000 after purchasing an additional 140,273 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Blackbaud by 56.0% during the third quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock valued at $36,332,000 after purchasing an additional 154,019 shares in the last quarter. 94.21% of the stock is owned by institutional investors.

Blackbaud Trading Up 1.7 %

Shares of Blackbaud stock opened at $65.73 on Monday. The stock has a market capitalization of $3.24 billion, a P/E ratio of -11.14 and a beta of 1.08. Blackbaud, Inc. has a 12-month low of $63.69 and a 12-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 company has a 50-day simple moving average of $74.03 and a 200 day simple moving average of $79.41.

Blackbaud (NASDAQ:BLKB) last posted 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 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%. Research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Four investment 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 has a consensus 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.