Blackbaud, Inc. (BLKB) Shares Sold by DF Dent & Co. Inc.

DF Dent & Co. Inc. cut its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 17.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 721,689 shares of the technology company’s stock after selling 151,081 shares during the period. DF Dent & Co. Inc. owned approximately 1.55% of Blackbaud worth $61,885,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock valued at $440,182,000 after buying an additional 5,737,302 shares in the last quarter. Vanguard Group Inc. increased its holdings in Blackbaud by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock valued at $325,020,000 after buying an additional 205,672 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Blackbaud by 787.4% in the second quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock valued at $355,393,000 after buying an additional 3,677,492 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Blackbaud by 9.6% in the first quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock valued at $173,194,000 after buying an additional 197,065 shares in the last quarter. Finally, State Street Corp increased its holdings in Blackbaud by 37.0% in the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock valued at $136,159,000 after buying an additional 428,948 shares in the last quarter.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Robert W. Baird set a $85.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a research note on Sunday, October 1st. Citigroup Inc. began coverage on shares of Blackbaud in a research note on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective for the company. B. Riley reissued a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a research note on Monday, August 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Blackbaud presently has an average rating of “Hold” and an average price target of $85.25.

Shares of Blackbaud, Inc. (BLKB) traded up 0.11% on Tuesday, hitting $89.00. 25,391 shares of the stock were exchanged. Blackbaud, Inc. has a one year low of $55.88 and a one year high of $93.81. The firm’s 50-day moving average is $85.09 and its 200-day moving average is $84.02. The company has a market cap of $4.15 billion, a P/E ratio of 85.66 and a beta of 0.84.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Blackbaud, Inc. will post $2.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. Blackbaud’s dividend payout ratio is currently 47.06%.

In other news, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total transaction of $93,681.90. Following the sale, the director now owns 22,272 shares in the company, valued at $1,888,220.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael P. Gianoni sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $87.77, for a total transaction of $351,080.00. Following the sale, the insider now owns 258,921 shares in the company, valued at approximately $22,725,496.17. The disclosure for this sale can be found here. Insiders have sold 20,752 shares of company stock worth $1,771,517 in the last 90 days. 2.19% of the stock is owned by company insiders.

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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).

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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