Blackbaud, Inc. (BLKB) Holdings Decreased by Royce & Associates LP

Royce & Associates LP reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,443 shares of the technology company’s stock after selling 14,200 shares during the quarter. Royce & Associates LP owned approximately 0.23% of Blackbaud worth $9,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. boosted its position in shares of Blackbaud by 6.3% during the third quarter. Brown Advisory Inc. now owns 727,400 shares of the technology company’s stock worth $63,866,000 after acquiring an additional 42,871 shares during the last quarter. Moody Aldrich Partners LLC boosted its position in shares of Blackbaud by 16.6% during the third quarter. Moody Aldrich Partners LLC now owns 6,353 shares of the technology company’s stock worth $558,000 after acquiring an additional 903 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Blackbaud by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 215,252 shares of the technology company’s stock worth $18,900,000 after acquiring an additional 10,517 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Blackbaud by 14.5% during the third quarter. Wells Fargo & Company MN now owns 70,600 shares of the technology company’s stock worth $6,198,000 after acquiring an additional 8,933 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 945,845 shares of the technology company’s stock worth $82,432,000 after acquiring an additional 26,980 shares during the last quarter.

BLKB has been the subject of a number of research reports. BidaskClub lowered shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. B. Riley restated a “neutral” rating and set a $78.00 target price on shares of Blackbaud in a research report on Monday, August 28th. Robert W. Baird upped their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Dougherty & Co initiated coverage on shares of Blackbaud in a research report on Tuesday, October 31st. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $94.75.

Shares of Blackbaud, Inc. (BLKB) opened at $96.32 on Thursday. The stock has a market cap of $4,603.14, a price-to-earnings ratio of 56.98, a P/E/G ratio of 5.88 and a beta of 0.82. 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 12 month low of $61.98 and a 12 month high of $104.55.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. The company had revenue of $195.51 million for the quarter, compared to the consensus estimate of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. Blackbaud’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. equities analysts forecast that Blackbaud, Inc. will post 1.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s payout ratio is 44.04%.

In related news, EVP Brian Boruff sold 800 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the sale, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kevin W. Mooney sold 900 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total transaction of $91,053.00. Following the sale, the executive vice president now directly owns 77,711 shares in the company, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,655 shares of company stock worth $972,923. 2.19% of the stock is owned by insiders.

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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).

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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