Hsbc Holdings PLC increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 240.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,357 shares of the technology company’s stock after purchasing an additional 11,548 shares during the period. Hsbc Holdings PLC’s holdings in Blackbaud were worth $1,027,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BLKB. Capital World Investors purchased a new position in Blackbaud during the 3rd quarter valued at about $142,326,000. Atlanta Capital Management Co. L L C grew its holdings in shares of Blackbaud by 8.3% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock worth $291,799,000 after buying an additional 355,998 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Blackbaud during the fourth quarter worth about $20,543,000. Daiwa SB Investments Ltd. purchased a new stake in shares of Blackbaud during the fourth quarter worth about $8,895,000. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Blackbaud by 15.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,001,431 shares of the technology company’s stock worth $62,990,000 after buying an additional 135,533 shares in the last quarter.
BLKB has been the topic of several research analyst reports. Stephens initiated coverage on shares of Blackbaud in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 target price on the stock. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. BidaskClub cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Finally, DA Davidson lifted their price target on shares of Blackbaud to $75.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.63.
Shares of NASDAQ:BLKB traded down $0.54 during midday trading on Monday, reaching $82.26. The company had a trading volume of 145,918 shares, compared to its average volume of 305,441. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. The firm has a market cap of $3.99 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 7.75 and a beta of 1.31. Blackbaud, Inc. has a one year low of $58.23 and a one year high of $120.35.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. Blackbaud had a net margin of 5.28% and a return on equity of 24.41%. The business had revenue of $221.79 million during the quarter, compared to analyst estimates of $220.40 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Blackbaud, Inc. will post 1.27 EPS for the current fiscal year.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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