Triodos Investment Management BV Increases Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Triodos Investment Management BV increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the technology company’s stock after acquiring an additional 1,500 shares during the period. Triodos Investment Management BV owned approximately 0.07% of Blackbaud worth $2,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in Blackbaud by 3.5% during the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after purchasing an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position 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 buying an additional 235,859 shares during the last quarter. Bank of New York Mellon Corp increased 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. Norges Bank acquired a new position in shares of Blackbaud during the fourth quarter worth about $34,168,000. Finally, Wellington Management Group LLP boosted its holdings in Blackbaud by 56.0% in 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. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Price Performance

BLKB opened at $62.32 on Friday. 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’s 50-day moving average price is $70.92 and its 200 day moving average price is $77.66. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -10.56 and a beta of 1.08. Blackbaud, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 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 analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. As a group, 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.