New York State Common Retirement Fund decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 825,389 shares of the technology company’s stock after selling 10,864 shares during the quarter. New York State Common Retirement Fund owned approximately 1.72% of Blackbaud worth $72,469,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. ETF Managers Group LLC acquired a new position in shares of Blackbaud in the second quarter worth about $125,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after acquiring an additional 39 shares in the last quarter. QS Investors LLC lifted its stake in shares of Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after acquiring an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after acquiring an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new position in shares of Blackbaud in the second quarter worth about $203,000.
Shares of Blackbaud, Inc. (BLKB) opened at $97.50 on Monday. Blackbaud, Inc. has a one year low of $59.54 and a one year high of $104.55. The stock has a market capitalization of $4,688.74, a P/E ratio of 58.04, a price-to-earnings-growth ratio of 5.98 and a beta of 0.82. 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 0.49%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s payout ratio is 44.04%.
BLKB has been the topic of several research reports. B. Riley set a $82.00 price objective on Blackbaud and gave the company a “hold” rating in a research note on Thursday, October 26th. Dougherty & Co initiated coverage on Blackbaud in a research note on Tuesday, October 31st. They set a “neutral” rating on the stock. Zacks Investment Research cut Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Robert W. Baird set a $85.00 price objective on Blackbaud and gave the company a “hold” rating in a research note on Sunday, October 1st. Finally, Citigroup initiated coverage on Blackbaud in a research note on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.75.
In other news, EVP Kevin W. Mooney sold 4,466 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total transaction of $451,066.00. Following the sale, the executive vice president now directly owns 71,655 shares in the company, valued at approximately $7,237,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $98.26, for a total value of $195,439.14. Following the sale, the chief financial officer now owns 105,342 shares in the company, valued at $10,350,904.92. The disclosure for this sale can be found here. Insiders have sold a total of 9,655 shares of company stock worth $972,923 over the last quarter. Insiders own 2.19% 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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