Koch Industries Inc. increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,252 shares of the technology company’s stock after buying an additional 1,568 shares during the quarter. Koch Industries Inc.’s holdings in Blackbaud were worth $780,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BLKB. BlackRock Inc. raised its stake in Blackbaud by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock worth $477,772,000 after buying an additional 85,826 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of Blackbaud by 11.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock valued at $69,001,000 after purchasing an additional 72,430 shares during the period. State of Tennessee Treasury Department acquired a new stake in shares of Blackbaud in the 4th quarter valued at about $6,614,000. Brown Advisory Inc. raised its stake in shares of Blackbaud by 6.3% in the 3rd quarter. Brown Advisory Inc. now owns 727,400 shares of the technology company’s stock valued at $63,866,000 after purchasing an additional 42,871 shares during the period. Finally, Jackson Square Partners LLC raised its stake in shares of Blackbaud by 3.7% in the 3rd quarter. Jackson Square Partners LLC now owns 1,162,056 shares of the technology company’s stock valued at $102,028,000 after purchasing an additional 41,858 shares during the period.
In related news, CFO Anthony W. Boor sold 10,954 shares of Blackbaud stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the completion of the transaction, the chief financial officer now owns 125,224 shares in the company, valued at $11,823,650.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George H. Ellis sold 600 shares of Blackbaud stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.73, for a total value of $61,038.00. The disclosure for this sale can be found here. Insiders sold a total of 94,612 shares of company stock valued at $9,344,203 in the last 90 days. 2.19% of the stock is owned by corporate insiders.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded up $1.13 during midday trading on Wednesday, hitting $108.67. The stock had a trading volume of 156,317 shares, compared to its average volume of 300,474. The company has a market cap of $5,220.00, a PE ratio of 113.20, a price-to-earnings-growth ratio of 5.54 and a beta of 0.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.81. Blackbaud, Inc. has a 12 month low of $74.46 and a 12 month high of $116.07.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $216.98 million during the quarter, compared to analysts’ expectations of $217.29 million. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. sell-side analysts anticipate that Blackbaud, Inc. will post 2.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s payout ratio is 50.00%.
Several analysts have issued reports on the company. Evercore ISI downgraded Blackbaud from an “in” rating to an “underperform” rating in a research note on Monday. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. B. Riley lifted their price target on Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus lifted their price target on Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $97.50.
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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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