Big data is starting to make its way down to even the smallest non-profit, and fund managers are finding a way to buy in.
Among their favorite targets: U.S. software provider Blackbaud Inc, whose cloud-based software is a favorite among non-profits looking to cash in on the record levels of charitable giving in the United States.
A total of 45 U.S. mutual funds added shares of the Charleston, South Carolina-based company to their portfolios between June and August, double the number from the previous quarter, according to the most recent data from Morningstar. Those purchases by fund managers are one reason why shares of the company are up nearly 40 percent for the year amid a down market and trade at a price-to-earnings ratio five times that of the broad S&P 500.
