BlackRock Inc. reduced its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,609,927 shares of the technology company’s stock after selling 22,763 shares during the quarter. BlackRock Inc. owned approximately 11.41% of Blackbaud worth $447,279,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLKB. Janus Henderson Group PLC boosted its position in shares of Blackbaud by 21.6% in the first quarter. Janus Henderson Group PLC now owns 4,782,583 shares of the technology company’s stock worth $381,310,000 after acquiring an additional 849,217 shares during the last quarter. Norges Bank acquired a new position in Blackbaud during the fourth quarter valued at approximately $46,789,000. Atlanta Capital Management Co. L L C lifted its position in Blackbaud by 8.3% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock valued at $291,799,000 after buying an additional 355,998 shares in the last quarter. Van ECK Associates Corp acquired a new position in Blackbaud during the fourth quarter valued at approximately $20,543,000. Finally, FMR LLC lifted its position in Blackbaud by 12,718.2% during the fourth quarter. FMR LLC now owns 163,048 shares of the technology company’s stock valued at $10,255,000 after buying an additional 161,776 shares in the last quarter.
Shares of BLKB traded down $1.15 during trading hours on Monday, reaching $82.35. The company’s stock had a trading volume of 306,800 shares, compared to its average volume of 292,253. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 44.04, a price-to-earnings-growth ratio of 7.80 and a beta of 1.20. The firm has a 50 day moving average of $78.84. Blackbaud, Inc. has a 1-year low of $58.23 and a 1-year high of $120.35. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.58.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were given a $0.12 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. Blackbaud’s dividend payout ratio is 25.67%.
In related news, EVP Kevin W. Mooney sold 8,858 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $80.00, for a total value of $708,640.00. Following the completion of the transaction, the executive vice president now directly owns 92,901 shares in the company, valued at $7,432,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy C. K. Chou sold 400 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $76.98, for a total value of $30,792.00. Following the completion of the transaction, the director now owns 20,114 shares of the company’s stock, valued at $1,548,375.72. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.
BLKB has been the topic of a number of analyst reports. BidaskClub upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Stephens lowered shares of Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price objective on the stock. in a research note on Wednesday, April 3rd. DA Davidson lifted their price objective on shares of Blackbaud to $75.00 and gave the company a “neutral” rating in a research note on Friday, March 29th. Finally, Zacks Investment Research lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $88.14.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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