Geneva Capital Management LLC Reduces Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Geneva Capital Management LLC lowered its position in Blackbaud, Inc. (NASDAQ:BLKB) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,157,387 shares of the technology company’s stock after selling 18,106 shares during the period. Blackbaud makes up approximately 1.5% of Geneva Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Geneva Capital Management LLC’s holdings in Blackbaud were worth $85,554,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Blackbaud in the fourth quarter valued at approximately $6,546,000. Victory Capital Management Inc. lifted its holdings in Blackbaud by 3.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,797 shares of the technology company’s stock valued at $1,094,000 after acquiring an additional 519 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Blackbaud by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 412,673 shares of the technology company’s stock valued at $30,505,000 after acquiring an additional 2,298 shares during the period. Bank of New York Mellon Corp lifted its holdings in Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after acquiring an additional 140,273 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Blackbaud in the fourth quarter valued at approximately $216,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 1.5 %

Shares of BLKB stock opened at $65.01 on Thursday. 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 company has a market cap of $3.20 billion, a price-to-earnings ratio of -11.02 and a beta of 1.08. The stock has a 50 day simple moving average of $74.67 and a 200-day simple moving average of $79.69. Blackbaud, Inc. has a 1-year low of $63.69 and a 1-year high of $88.95.

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%. On average, equities research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.