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

Vestcor Inc acquired a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,010 shares of the technology company’s stock, valued at approximately $75,000.

Other large investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its position in Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock valued at $4,770,000 after purchasing an additional 19,270 shares in the last quarter. Entropy Technologies LP bought a new position in Blackbaud in the fourth quarter valued at $377,000. JPMorgan Chase & Co. grew its position in Blackbaud by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock valued at $19,107,000 after purchasing an additional 7,097 shares in the last quarter. Tributary Capital Management LLC grew its position in 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 purchasing an additional 3,739 shares in the last quarter. Finally, Simcoe Capital Management LLC bought a new position in Blackbaud in the third quarter valued at $5,987,000. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their target price 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.33.

Blackbaud Stock Performance

Shares of BLKB opened at $63.89 on Wednesday. The firm has a 50-day moving average of $72.69 and a 200-day moving average of $78.55. Blackbaud, Inc. has a one year low of $62.99 and a one year high of $88.95. The company has a market cap of $3.15 billion, a PE ratio of -10.83 and a beta of 1.08. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68.

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

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.