Bank of New York Mellon Corp boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 815,202 shares of the technology company’s stock after acquiring an additional 123,670 shares during the period. Bank of New York Mellon Corp owned 1.64% of Blackbaud worth $45,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its stake in Blackbaud by 4.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,064,981 shares of the technology company’s stock valued at $59,160,000 after acquiring an additional 47,223 shares during the period. FMR LLC increased its position in Blackbaud by 31.0% during the 4th quarter. FMR LLC now owns 969,318 shares of the technology company’s stock worth $77,158,000 after buying an additional 229,289 shares during the period. Echo Street Capital Management LLC increased its position in Blackbaud by 43.2% during the 4th quarter. Echo Street Capital Management LLC now owns 808,884 shares of the technology company’s stock worth $64,387,000 after buying an additional 244,211 shares during the period. Norges Bank bought a new position in Blackbaud during the 4th quarter worth $59,565,000. Finally, Geode Capital Management LLC increased its position in Blackbaud by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 682,043 shares of the technology company’s stock worth $54,290,000 after buying an additional 23,770 shares during the period.

Several research firms have weighed in on BLKB. Needham & Company LLC reiterated a “hold” rating on shares of Blackbaud in a research report on Wednesday, May 6th. BidaskClub upgraded Blackbaud from a “strong sell” rating to a “sell” rating in a research report on Wednesday. DA Davidson lowered their price objective on Blackbaud from $89.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. BTIG Research initiated coverage on Blackbaud in a report on Thursday, April 16th. They set a “neutral” rating on the stock. Finally, ValuEngine lowered Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, April 17th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $80.75.

BLKB opened at $56.65 on Friday. The firm has a market cap of $2.80 billion, a P/E ratio of 153.11, a price-to-earnings-growth ratio of 11.54 and a beta of 1.10. Blackbaud, Inc. has a 52-week low of $38.22 and a 52-week high of $97.35. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.69 and a current ratio of 0.69. The business’s fifty day moving average is $51.79 and its 200-day moving average is $69.44.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, May 5th. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $223.62 million for the quarter, compared to analyst estimates of $221.97 million. Blackbaud had a return on equity of 15.99% and a net margin of 1.95%. Blackbaud’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. On average, research analysts predict that Blackbaud, Inc. will post 1.14 earnings per share for the current fiscal year.

About Blackbaud

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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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