Blackbaud, Inc. (BLKB) Stake Lifted by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 144,000 shares of the technology company’s stock after acquiring an additional 3,000 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Blackbaud were worth $14,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BLKB. Engineers Gate Manager LP purchased a new position in Blackbaud during the 1st quarter worth approximately $798,000. Guggenheim Capital LLC grew its stake in Blackbaud by 464.6% during the 4th quarter. Guggenheim Capital LLC now owns 94,602 shares of the technology company’s stock worth $8,939,000 after buying an additional 77,847 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in Blackbaud during the 4th quarter worth approximately $4,887,000. Federated Investors Inc. PA grew its stake in Blackbaud by 345.5% during the 1st quarter. Federated Investors Inc. PA now owns 86,084 shares of the technology company’s stock worth $8,764,000 after buying an additional 66,761 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Blackbaud during the 4th quarter worth approximately $343,000.

Blackbaud opened at $114.30 on Friday, MarketBeat reports. Blackbaud, Inc. has a twelve month low of $81.64 and a twelve month high of $116.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.33. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 64.58, a P/E/G ratio of 4.78 and a beta of 0.66.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, April 30th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Blackbaud had a return on equity of 28.66% and a net margin of 8.92%. The company had revenue of $204.18 million during the quarter, compared to analysts’ expectations of $204.29 million. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. research analysts forecast that Blackbaud, Inc. will post 2.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 25th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.42%. Blackbaud’s payout ratio is 30.19%.

A number of research analysts recently issued reports on the company. BidaskClub upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. B. Riley raised their price target on Blackbaud from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 2nd. ValuEngine upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus raised their price target on Blackbaud from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Finally, Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $105.33.

In other Blackbaud news, EVP Kevin W. Mooney sold 9,669 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $1,015,245.00. Following the completion of the sale, the executive vice president now directly owns 99,226 shares of the company’s stock, valued at approximately $10,418,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $106.00, for a total value of $212,000.00. Following the sale, the senior vice president now directly owns 41,169 shares of the company’s stock, valued at $4,363,914. The disclosure for this sale can be found here. Insiders have sold a total of 14,669 shares of company stock valued at $1,535,745 over the last ninety days. 1.55% of the stock is owned by insiders.

Blackbaud 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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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