Trillium Asset Management LLC increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 41.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,051 shares of the technology company’s stock after acquiring an additional 44,817 shares during the period. Trillium Asset Management LLC owned about 0.33% of Blackbaud worth $13,350,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. ETF Managers Group LLC purchased a new position in shares of Blackbaud in the 2nd quarter valued at about $125,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after acquiring an additional 39 shares during the last quarter. QS Investors LLC increased its holdings in shares of Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after acquiring an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Blackbaud by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after acquiring an additional 163 shares during the last quarter. Finally, Investment Centers of America Inc. purchased a new position in shares of Blackbaud in the 2nd quarter valued at about $203,000.
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In other news, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the transaction, the senior vice president now directly owns 50,756 shares in the company, valued at $4,275,685.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin W. Mooney sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total transaction of $91,053.00. Following the completion of the transaction, the executive vice president now owns 77,711 shares of the company’s stock, valued at $7,862,021.87. The disclosure for this sale can be found here. Insiders have sold 23,152 shares of company stock worth $2,014,775 over the last three months. 2.19% of the stock is owned by insiders.
A number of research analysts have recently commented on BLKB shares. Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a report on Friday, July 21st. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. B. Riley reiterated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a report on Wednesday, August 2nd. Citigroup Inc. started coverage on Blackbaud in a report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Robert W. Baird set a $85.00 price objective on Blackbaud and gave the company a “hold” rating in a report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Blackbaud presently has an average rating of “Hold” and an average target price of $91.44.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded down $0.46 during midday trading on Monday, hitting $100.01. The company had a trading volume of 110,420 shares, compared to its average volume of 332,558. Blackbaud, Inc. has a 1 year low of $58.34 and a 1 year high of $103.41. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $4,831.56, a PE ratio of 59.80, a PEG ratio of 4.07 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm had revenue of $195.51 million for the quarter, compared to analyst estimates of $196.35 million. During the same period last year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts forecast that Blackbaud, Inc. will post 1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s payout ratio is currently 44.04%.
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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