Why Is Blackbaud (BLKB) a Lucrative Investment Opportunity?

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy featured stocks such as Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter 2023 investor letter. Headquartered in Charleston, South Carolina, Blackbaud, Inc. (NASDAQ:BLKB) is a cloud software solutions provider. On January 12, 2024, Blackbaud, Inc. (NASDAQ:BLKB) stock closed at $82.29 per share. One-month return of Blackbaud, Inc. (NASDAQ:BLKB) was -4.91%, and its shares gained 33.96% of their value over the last 52 weeks. Blackbaud, Inc. (NASDAQ:BLKB) has a market capitalization of $4.432 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Blackbaud, Inc. (NASDAQ:BLKB) in its fourth quarter 2023 investor letter:

“In the fourth quarter we initiated four new investments: Inari Medical, Blackbaud, Inc. (NASDAQ:BLKB), Mirum Pharmaceuticals and Installed Building Products. Blackbaud is a vertical cloud software provider for nonprofit organizations, education institutions and foundations/charities. With a broad portfolio of solutions to support fundraising and operational activities for its clients, Blackbaud has been evolving its pricing model to accelerate revenue growth while also realizing benefits from a variety of cost and efficiency programs.”

An experienced software developer architecting a cloud software solution on multiple monitors.

Blackbaud, Inc. (NASDAQ:BLKB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Blackbaud, Inc. (NASDAQ:BLKB) at the end of third quarter which was 25 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.