Virginia Retirement Systems ET AL Grows Position in Blackbaud, Inc. (BLKB)

Virginia Retirement Systems ET AL boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 95.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,900 shares of the technology company’s stock after buying an additional 9,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Blackbaud were worth $1,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Blackbaud by 12.2% in the 3rd quarter. Legal & General Group Plc now owns 41,988 shares of the technology company’s stock worth $3,684,000 after acquiring an additional 4,563 shares in the last quarter. American International Group Inc. grew its stake in shares of Blackbaud by 2.8% in the 3rd quarter. American International Group Inc. now owns 130,306 shares of the technology company’s stock worth $11,441,000 after acquiring an additional 3,529 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Blackbaud by 18.7% in the 3rd quarter. Pacer Advisors Inc. now owns 5,614 shares of the technology company’s stock worth $493,000 after acquiring an additional 886 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Blackbaud by 0.3% in the 3rd quarter. Macquarie Group Ltd. now owns 228,300 shares of the technology company’s stock worth $20,045,000 after acquiring an additional 655 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Blackbaud by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 648,312 shares of the technology company’s stock worth $56,920,000 after acquiring an additional 30,850 shares in the last quarter.

Blackbaud, Inc. (NASDAQ:BLKB) opened at $95.80 on Wednesday. The firm has a market cap of $4,573.80, a PE ratio of 56.61, a P/E/G ratio of 5.84 and a beta of 0.82. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud, Inc. has a 1 year low of $61.98 and a 1 year high of $104.55.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The company had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business 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 announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. Blackbaud’s dividend payout ratio is presently 44.04%.

BLKB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Monday, October 30th. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a research note on Thursday, October 19th. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a “hold” rating in a research report on Sunday, October 1st. 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 five have assigned a buy rating to the company. Blackbaud currently has a consensus rating of “Buy” and an average price target of $94.75.

In other Blackbaud news, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the transaction, the chief financial officer now owns 105,342 shares in the company, valued at $10,350,904.92. The sale 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 the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total transaction of $91,053.00. Following the transaction, the executive vice president now owns 77,711 shares of the company’s stock, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. Insiders have sold 9,655 shares of company stock valued at $972,923 in the last quarter. Company insiders own 2.19% of the company’s stock.

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About Blackbaud

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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