Schwab Charles Investment Management Inc. lifted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 11.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 240,146 shares of the technology company’s stock after purchasing an additional 24,894 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Blackbaud were worth $22,692,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Blackbaud by 142.0% during the second quarter. FMR LLC now owns 345,736 shares of the technology company’s stock worth $29,647,000 after acquiring an additional 202,843 shares during the last quarter. QS Investors LLC raised its position in Blackbaud by 157.1% during 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 during the last quarter. HighTower Advisors LLC acquired a new position in Blackbaud during the second quarter worth about $241,000. State Street Corp raised its position in 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 acquiring an additional 428,948 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Blackbaud by 184.0% during the second quarter. The Manufacturers Life Insurance Company now owns 103,209 shares of the technology company’s stock worth $8,850,000 after acquiring an additional 66,869 shares during the last quarter.
A number of equities analysts have issued reports on BLKB shares. Stifel Nicolaus lifted their target price on shares of Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Thursday, February 8th. BidaskClub cut shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.50.
Shares of Blackbaud, Inc. (BLKB) opened at $100.05 on Friday. The company has a market cap of $4,811.40, a PE ratio of 60.27, a PEG ratio of 5.06 and a beta of 0.75. Blackbaud, Inc. has a twelve month low of $68.61 and a twelve month high of $104.55. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.48%. Blackbaud’s dividend payout ratio (DPR) is presently 35.04%.
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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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