Retirement Systems of Alabama purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,521 shares of the technology company’s stock, valued at approximately $5,361,000. Retirement Systems of Alabama owned approximately 0.13% of Blackbaud as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Wisconsin Investment Board raised 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 in the last quarter. Geneva Advisors LLC raised 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 in the last quarter. Karp Capital Management Corp bought a new position in Blackbaud during the first quarter valued at about $1,516,000. Eqis Capital Management Inc. raised its position in Blackbaud by 1.5% in the second quarter. Eqis Capital Management Inc. now owns 14,456 shares of the technology company’s stock valued at $1,240,000 after buying an additional 207 shares in the last quarter. Finally, Sit Investment Associates Inc. bought a new position in Blackbaud during the second quarter valued at about $611,000.
Blackbaud, Inc. (NASDAQ:BLKB) opened at 83.56 on Friday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 80.42 and a beta of 0.77. The firm’s 50-day moving average price is $87.96 and its 200 day moving average price is $80.48. Blackbaud, Inc. has a 12-month low of $55.88 and a 12-month high of $93.81.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. The company had revenue of $192.50 million during the quarter, compared to analyst estimates of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts expect that Blackbaud, Inc. will post $2.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders 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 yield of 0.57%. Blackbaud’s dividend payout ratio (DPR) is currently 47.06%.
BLKB has been the topic of several recent research reports. Zacks Investment Research lowered 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 issued a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. Benchmark Co. restated a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of Blackbaud in a research report on Tuesday, May 2nd. Finally, B. Riley restated a “neutral” rating and issued a $78.00 price target on shares of Blackbaud in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.71.
In other Blackbaud news, Director George H. Ellis sold 3,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $85.40, for a total transaction of $256,200.00. Following the sale, the director now owns 9,011 shares of the company’s stock, valued at $769,539.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin W. Mooney sold 2,338 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $88.00, for a total transaction of $205,744.00. Following the sale, the executive vice president now directly owns 83,638 shares in the company, valued at approximately $7,360,144. The disclosure for this sale can be found here. Insiders have sold 17,643 shares of company stock worth $1,498,050 in the last ninety days. Insiders own 2.74% of the company’s stock.
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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