Blackbaud, Inc. (BLKB) Position Raised by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,760 shares of the technology company’s stock after acquiring an additional 544 shares during the quarter. Prudential Financial Inc. owned approximately 0.07% of Blackbaud worth $2,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in Blackbaud by 787.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock worth $355,393,000 after acquiring an additional 3,677,492 shares in the last quarter. State Street Corp grew its holdings in shares of Blackbaud by 37.0% during the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after buying an additional 428,948 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Blackbaud by 6.0% during the second quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after buying an additional 51,747 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Blackbaud by 4.6% during the second quarter. Northern Trust Corp now owns 800,433 shares of the technology company’s stock worth $68,638,000 after buying an additional 35,231 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Blackbaud by 21.9% during the second quarter. Neuberger Berman Group LLC now owns 761,011 shares of the technology company’s stock worth $65,257,000 after buying an additional 136,470 shares in the last quarter.

In related news, EVP Brian Boruff sold 800 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the sale, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 900 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 77,711 shares of the company’s stock, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. Insiders sold 9,655 shares of company stock valued at $972,923 in the last three months. 2.19% of the stock is currently owned by insiders.

Shares of Blackbaud, Inc. (NASDAQ:BLKB) opened at $97.50 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.63 and a quick ratio of 0.63. Blackbaud, Inc. has a 1-year low of $59.54 and a 1-year high of $104.55. The stock has a market cap of $4,688.77, a PE ratio of 58.04, a P/E/G ratio of 6.02 and a beta of 0.83.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $196.35 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Blackbaud’s quarterly revenue was up 6.8% on a year-over-year basis. research analysts expect that Blackbaud, Inc. will post 1.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, November 27th. Blackbaud’s dividend payout ratio is currently 44.04%.

A number of equities research analysts have recently issued reports on BLKB shares. Robert W. Baird upped their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Citigroup started coverage on shares of Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 target price for the company. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Monday, October 30th. Dougherty & Co started coverage on shares of Blackbaud in a report on Tuesday, October 31st. They set a “neutral” rating for the company. Finally, B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Blackbaud currently has an average rating of “Buy” and a consensus target price of $94.75.

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

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