Summit Investment Advisors Inc. Has $889,000 Stock Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Summit Investment Advisors Inc. lowered its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,033 shares of the technology company’s stock after selling 338 shares during the period. Summit Investment Advisors Inc.’s holdings in Blackbaud were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLKB. Entropy Technologies LP bought a new stake in Blackbaud during the 4th quarter worth $377,000. JPMorgan Chase & Co. grew its holdings in shares of Blackbaud by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after purchasing an additional 7,097 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after buying an additional 3,739 shares during the period. Cibc World Markets Corp bought a new position in Blackbaud in the 4th quarter valued at approximately $280,000. Finally, Blue Trust Inc. boosted its position in Blackbaud by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock worth $143,000 after buying an additional 333 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $62.02 on Friday. The company has a market capitalization of $3.05 billion, a PE ratio of -10.51 and a beta of 1.04. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The company has a 50 day simple moving average of $65.44 and a two-hundred day simple moving average of $75.11.

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 analysts’ consensus estimates of $1.08 by ($0.50). The firm had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. Research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Blackbaud 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.