Bank of Montreal Can Grows Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Bank of Montreal Can boosted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,686 shares of the technology company’s stock after buying an additional 975 shares during the period. Bank of Montreal Can’s holdings in Blackbaud were worth $1,086,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Blackbaud by 170.4% during the third quarter. Barclays PLC now owns 80,557 shares of the technology company’s stock worth $6,821,000 after acquiring an additional 50,765 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Blackbaud by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 15,024 shares of the technology company’s stock valued at $1,261,000 after buying an additional 532 shares during the period. 272 Capital LP purchased a new stake in shares of Blackbaud in the third quarter valued at approximately $872,000. JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 3.2% during the 3rd 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 in the last quarter. Finally, Brookstone Capital Management grew its stake in shares of Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after purchasing an additional 275 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their price objective on 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Performance

Shares of BLKB opened at $62.02 on Friday. Blackbaud, Inc. has a 12-month low of $58.05 and a 12-month high of $88.95. The stock has a market cap of $3.05 billion, a P/E ratio of -10.51 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a 50-day moving average of $65.09 and a two-hundred day moving average of $74.96.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). The company had revenue of $302.23 million during the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. As a group, research analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal 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.