Swiss National Bank raised its position in Blackbaud, Inc. (NASDAQ:BLKB) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,653 shares of the technology company’s stock after purchasing an additional 1,000 shares during the quarter. Swiss National Bank owned 0.17% of Blackbaud worth $6,830,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLKB. BlackRock Inc. increased its position in shares of Blackbaud by 145,653.8% during the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after acquiring an additional 5,737,302 shares during the period. Vanguard Group Inc. increased its position in shares of Blackbaud by 5.1% during the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after acquiring an additional 205,672 shares during the period. Wellington Management Group LLP increased its position in shares of Blackbaud by 7.7% during the first quarter. Wellington Management Group LLP now owns 2,591,699 shares of the technology company’s stock worth $198,705,000 after acquiring an additional 184,366 shares during the period. Champlain Investment Partners LLC increased its position in shares of Blackbaud by 9.6% during the first quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock worth $173,194,000 after acquiring an additional 197,065 shares during the period. Finally, State Street Corp increased its position in shares of Blackbaud by 7.5% during the first quarter. State Street Corp now owns 1,158,864 shares of the technology company’s stock worth $88,849,000 after acquiring an additional 80,891 shares during the period.
A number of research firms have recently weighed in on BLKB. B. Riley reaffirmed a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. Finally, Benchmark Co. cut their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Blackbaud presently has an average rating of “Hold” and an average target price of $81.71.
Blackbaud, Inc. (NASDAQ BLKB) opened at 83.62 on Friday. The firm has a 50-day moving average of $85.38 and a 200 day moving average of $82.59. Blackbaud, Inc. has a 1-year low of $55.88 and a 1-year high of $93.81. The firm has a market cap of $3.90 billion, a P/E ratio of 80.48 and a beta of 0.82.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). The company had revenue of $192.50 million for the quarter, compared to analyst estimates of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. Blackbaud’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. On average, analysts predict that Blackbaud, Inc. will post $2.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 24th. Blackbaud’s dividend payout ratio is currently 47.06%.
In other news, Director Sarah E. Nash sold 1,105 shares of Blackbaud stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total value of $93,681.90. Following the completion of the transaction, the director now directly owns 22,272 shares of the company’s stock, valued at approximately $1,888,220.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George H. Ellis sold 3,000 shares of Blackbaud stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $85.40, for a total transaction of $256,200.00. Following the completion of the transaction, the director now directly owns 9,011 shares of the company’s stock, valued at $769,539.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,752 shares of company stock valued at $1,771,517. 2.74% of the stock is owned by company insiders.
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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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