First Mercantile Trust Co. Sells 1,067 Shares of Blackbaud, Inc. (BLKB)

First Mercantile Trust Co. lowered its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,489 shares of the technology company’s stock after selling 1,067 shares during the quarter. First Mercantile Trust Co.’s holdings in Blackbaud were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. 1st Global Advisors Inc. lifted its position in Blackbaud by 0.6% during the second quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock valued at $822,000 after buying an additional 57 shares during the period. Advisor Group Inc. lifted its position in Blackbaud by 2.1% during the second quarter. Advisor Group Inc. now owns 3,108 shares of the technology company’s stock valued at $265,000 after buying an additional 65 shares during the period. Flinton Capital Management LLC raised its position in shares of Blackbaud by 6.0% in the 2nd quarter. Flinton Capital Management LLC now owns 3,408 shares of the technology company’s stock worth $292,000 after purchasing an additional 192 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Blackbaud by 5.7% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,775 shares of the technology company’s stock worth $924,000 after purchasing an additional 525 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Blackbaud by 1.7% in the 3rd quarter. Prudential Financial Inc. now owns 32,760 shares of the technology company’s stock worth $2,876,000 after purchasing an additional 544 shares during the last quarter.

In other Blackbaud news, EVP Brian Boruff sold 800 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at approximately $5,287,104.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin W. Mooney sold 4,466 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total value of $451,066.00. Following the completion of the transaction, the executive vice president now directly owns 71,655 shares of the company’s stock, valued at approximately $7,237,155. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by insiders.

Blackbaud, Inc. (NASDAQ:BLKB) opened at $94.21 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.63. The stock has a market capitalization of $4,777.22, a PE ratio of 68.77, a PEG ratio of 5.66 and a beta of 0.75. Blackbaud, Inc. has a 52-week low of $64.82 and a 52-week high of $104.55.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is 35.04%.

BLKB has been the subject of several recent analyst reports. BidaskClub lowered Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Monday, October 30th. Citigroup set a $112.00 price target on Blackbaud and gave the stock a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus lifted their price target on Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $95.33.

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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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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