Mackay Shields LLC acquired a new position in Blackbaud, Inc. (NASDAQ:BLKB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,300 shares of the technology company’s stock, valued at approximately $743,000.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Blackbaud by 1.7% in the fourth quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock worth $477,772,000 after purchasing an additional 85,826 shares during the last quarter. Atlanta Capital Management Co. L L C increased its position in shares of Blackbaud by 0.5% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,303,709 shares of the technology company’s stock valued at $406,657,000 after acquiring an additional 19,346 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Blackbaud by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 508,235 shares of the technology company’s stock valued at $48,023,000 after acquiring an additional 13,760 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Blackbaud by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 422,577 shares of the technology company’s stock valued at $39,929,000 after acquiring an additional 4,282 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Blackbaud by 11.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 240,146 shares of the technology company’s stock valued at $22,692,000 after acquiring an additional 24,894 shares during the last quarter.
In other Blackbaud news, Director Andrew M. Leitch sold 10,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $102.96, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now directly owns 28,848 shares of the company’s stock, valued at $2,970,190.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joyce Nelson sold 2,000 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $101.75, for a total value of $203,500.00. Following the transaction, the director now directly owns 13,906 shares of the company’s stock, valued at $1,414,935.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,520 shares of company stock valued at $2,016,478. 1.55% of the stock is owned by corporate insiders.
A number of brokerages recently commented on BLKB. Evercore ISI downgraded Blackbaud from an “in” rating to an “underperform” rating in a research report on Monday, March 12th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Thursday, February 8th. B. Riley increased their price target on Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. DA Davidson set a $110.00 price target on Blackbaud and gave the company a “hold” rating in a research report on Thursday, March 15th. Finally, Stifel Nicolaus increased their price target on Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $103.14.
Shares of BLKB opened at $98.42 on Friday. Blackbaud, Inc. has a 12 month low of $81.61 and a 12 month high of $116.07. The company has a market cap of $4.80 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 4.15 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.71 and a quick ratio of 0.71.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, April 30th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Blackbaud had a return on equity of 28.66% and a net margin of 8.92%. The business had revenue of $204.18 million during the quarter, compared to analyst estimates of $204.29 million. During the same period in the prior year, the company earned $0.50 earnings per share. Blackbaud’s revenue was up 10.3% compared to the same quarter last year. equities research analysts predict that Blackbaud, Inc. will post 2.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 25th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.49%. The ex-dividend date is Thursday, May 24th. Blackbaud’s dividend payout ratio (DPR) is 30.19%.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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