Morgan Stanley decreased its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 37.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,551 shares of the technology company’s stock after selling 83,790 shares during the period. Morgan Stanley owned about 0.30% of Blackbaud worth $10,776,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. State of Wisconsin Investment Board boosted its position in Blackbaud by 103.4% in the first quarter. State of Wisconsin Investment Board now owns 98,360 shares of the technology company’s stock valued at $7,541,000 after buying an additional 50,000 shares during the last quarter. Macquarie Group Ltd. boosted its position in Blackbaud by 1.0% in the fourth quarter. Macquarie Group Ltd. now owns 695,598 shares of the technology company’s stock valued at $44,518,000 after buying an additional 6,873 shares during the last quarter. Geneva Advisors LLC boosted its position in Blackbaud by 6.4% in the first quarter. Geneva Advisors LLC now owns 17,359 shares of the technology company’s stock valued at $1,331,000 after buying an additional 1,044 shares during the last quarter. Karp Capital Management Corp acquired a new position in Blackbaud during the first quarter valued at approximately $1,516,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Blackbaud by 22.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,003 shares of the technology company’s stock valued at $1,457,000 after buying an additional 3,445 shares during the last quarter.
Blackbaud, Inc. (NASDAQ BLKB) opened at 84.61 on Friday. The stock has a market capitalization of $3.95 billion, a PE ratio of 81.43 and a beta of 0.77. Blackbaud, Inc. has a 12-month low of $55.88 and a 12-month high of $93.81. The stock has a 50 day moving average price of $88.52 and a 200-day moving average price of $79.98.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. The business had revenue of $192.50 million for the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. Blackbaud’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts anticipate that Blackbaud, Inc. will post $2.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Blackbaud’s payout ratio is 47.06%.
BLKB has been the subject of several recent analyst reports. Raymond James Financial, Inc. initiated coverage on Blackbaud in a research report on Wednesday, April 19th. They set an “outperform” rating and a $90.00 target price for the company. Zacks Investment Research cut Blackbaud from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Stifel Nicolaus restated a “buy” rating and set a $96.00 target price on shares of Blackbaud in a research report on Friday, July 21st. Benchmark Co. restated a “buy” rating and set a $90.00 target price (up from $85.00) on shares of Blackbaud in a research report on Tuesday, May 2nd. Finally, B. Riley restated a “neutral” rating and set a $78.00 target price on shares of Blackbaud in a research report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $81.71.
In other news, Director Sarah E. Nash sold 825 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total transaction of $64,902.75. Following the completion of the transaction, the director now owns 20,652 shares in the company, valued at $1,624,692.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John J. Mistretta sold 4,016 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $83.00, for a total value of $333,328.00. Following the transaction, the executive vice president now owns 87,165 shares of the company’s stock, valued at approximately $7,234,695. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,468 shares of company stock valued at $1,306,753. Company insiders own 2.74% of the company’s stock.
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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