Blackbaud, Inc. (BLKB) Stake Lifted by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 159.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,514 shares of the technology company’s stock after acquiring an additional 20,609 shares during the period. Bessemer Group Inc. owned about 0.07% of Blackbaud worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Blackbaud by 3,775.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,709 shares of the technology company’s stock valued at $1,555,000 after purchasing an additional 17,252 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in Blackbaud by 48.1% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,250 shares of the technology company’s stock worth $812,000 after acquiring an additional 3,005 shares in the last quarter. Prudential Financial Inc. raised its holdings in Blackbaud by 1.7% during the third quarter. Prudential Financial Inc. now owns 32,760 shares of the technology company’s stock worth $2,876,000 after acquiring an additional 544 shares in the last quarter. Trillium Asset Management LLC raised its holdings in Blackbaud by 41.8% during the third quarter. Trillium Asset Management LLC now owns 152,051 shares of the technology company’s stock worth $13,350,000 after acquiring an additional 44,817 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Blackbaud by 3.7% during the third quarter. American Century Companies Inc. now owns 36,829 shares of the technology company’s stock worth $3,234,000 after acquiring an additional 1,298 shares in the last quarter.

In other news, CFO Anthony W. Boor sold 1,989 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.26, for a total value of $195,439.14. Following the completion of the sale, the chief financial officer now directly owns 105,342 shares in the company, valued at approximately $10,350,904.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jon W. Olson sold 5,282 shares of Blackbaud stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the transaction, the senior vice president now owns 50,756 shares of the company’s stock, valued at approximately $4,275,685.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,137 shares of company stock valued at $1,334,719. Company insiders own 2.19% of the company’s stock.

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Shares of Blackbaud, Inc. (BLKB) traded up $1.22 during trading hours on Wednesday, reaching $103.79. The company had a trading volume of 150,200 shares, compared to its average volume of 313,745. The company has a market cap of $4,932.55, a price-to-earnings ratio of 61.05, a P/E/G ratio of 4.63 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. Blackbaud, Inc. has a twelve month low of $59.54 and a twelve month high of $104.53.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. During the same period last year, the company earned $0.45 EPS. Blackbaud’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities analysts anticipate that Blackbaud, Inc. will post 1.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.46%. Blackbaud’s payout ratio is currently 44.04%.

Several analysts have issued reports on the company. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Citigroup Inc. initiated coverage on Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 target price on the stock. B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird set a $85.00 price target on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Finally, Dougherty & Co started coverage on Blackbaud in a research report on Tuesday, October 31st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Blackbaud has an average rating of “Hold” and a consensus price target of $91.44.

Blackbaud Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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