Vestcor Inc Invests $75,000 in Blackbaud, Inc. (NASDAQ:BLKB)

Vestcor Inc bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,010 shares of the technology company’s stock, valued at approximately $75,000.

A number of other hedge funds also recently modified their holdings of the stock. Swiss National Bank lifted its stake in shares of Blackbaud by 0.6% during the 4th quarter. Swiss National Bank now owns 81,153 shares of the technology company’s stock worth $5,999,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blackbaud by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,875 shares of the technology company’s stock worth $804,000 after buying an additional 1,676 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Blackbaud during the 4th quarter worth about $6,546,000. Victory Capital Management Inc. lifted its stake in shares of Blackbaud by 3.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company’s stock worth $1,094,000 after buying an additional 519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blackbaud by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock worth $30,505,000 after buying an additional 2,298 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $85.33.

Blackbaud Price Performance

Shares of Blackbaud stock opened at $63.89 on Wednesday. Blackbaud, Inc. has a twelve month low of $62.99 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 company has a 50-day simple moving average of $72.69 and a two-hundred day simple moving average of $78.55. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -10.83 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data 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). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $302.23 million during the quarter, compared to analyst estimates of $303.41 million. Analysts forecast 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.