Aperio Group LLC lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,114 shares of the technology company’s stock after purchasing an additional 1,137 shares during the quarter. Aperio Group LLC’s holdings in Blackbaud were worth $2,029,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in BLKB. ETF Managers Group LLC purchased a new stake in shares of Blackbaud during the second quarter worth approximately $125,000. Northwestern Mutual Wealth Management Co. raised its position in Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after acquiring an additional 39 shares in the last quarter. QS Investors LLC raised its position in Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after acquiring an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after acquiring an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. purchased a new position in Blackbaud in the second quarter worth $203,000.
Shares of Blackbaud, Inc. (NASDAQ BLKB) opened at $99.89 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud, Inc. has a 52 week low of $59.54 and a 52 week high of $103.41. The stock has a market capitalization of $4,781.55, a PE ratio of 59.19, a price-to-earnings-growth ratio of 4.03 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $195.51 million for the quarter, compared to analyst estimates of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. equities analysts predict that Blackbaud, Inc. will post 1.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s dividend payout ratio is currently 44.04%.
In other Blackbaud news, SVP Jon W. Olson sold 5,282 shares of Blackbaud stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the sale, the senior vice president now directly owns 50,756 shares in the company, valued at approximately $4,275,685.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin W. Mooney sold 900 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total value of $91,053.00. Following the sale, the executive vice president now owns 77,711 shares in the company, valued at $7,862,021.87. The disclosure for this sale can be found here. Insiders sold a total of 15,803 shares of company stock worth $1,397,190 over the last ninety days. Corporate insiders own 2.19% of the company’s stock.
BLKB has been the subject of several research analyst reports. Citigroup Inc. began coverage on Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Monday, October 30th. B. Riley set a $82.00 price target on Blackbaud and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Robert W. Baird set a $85.00 price target on Blackbaud and gave the company a “hold” rating in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $91.44.
Blackbaud Company 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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