Aristides Capital LLC Grows Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Aristides Capital LLC increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 37.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,844 shares of the technology company’s stock after acquiring an additional 1,039 shares during the quarter. Aristides Capital LLC’s holdings in Blackbaud were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLKB. Russell Investments Group Ltd. lifted its position in shares of Blackbaud by 1,349.0% during the 4th quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company’s stock worth $767,000 after buying an additional 9,659 shares during the last quarter. Wells Fargo & Company MN raised its stake in Blackbaud by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company’s stock worth $3,754,000 after acquiring an additional 3,017 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Blackbaud in the fourth quarter valued at $440,000. Huntington National Bank boosted its stake in Blackbaud by 13.9% in the fourth quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after acquiring an additional 227 shares in the last quarter. Finally, Kesler Norman & Wride LLC purchased a new position in shares of Blackbaud during the fourth quarter worth about $627,000. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird reduced 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Blackbaud presently has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Down 2.3 %

Shares of NASDAQ:BLKB opened at $62.20 on Monday. Blackbaud, Inc. has a 1-year low of $61.17 and a 1-year high of $88.95. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market cap of $3.06 billion, a P/E ratio of -10.54 and a beta of 1.04. The firm has a fifty day moving average price of $69.18 and a 200 day moving average price of $76.74.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million for 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%. Sell-side analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current year.

About Blackbaud

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.