Quantitative Investment Management LLC purchased a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,200 shares of the technology company’s stock, valued at approximately $1,530,000.
Other hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in Blackbaud in the 4th quarter valued at about $157,000. First Republic Investment Management Inc. acquired a new position in Blackbaud during the 4th quarter worth approximately $204,000. Shelton Capital Management acquired a new position in Blackbaud during the 3rd quarter worth approximately $235,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Blackbaud by 47.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock worth $264,000 after purchasing an additional 897 shares during the period. Finally, Yorktown Management & Research Co Inc acquired a new position in Blackbaud during the 4th quarter worth approximately $274,000.
In related news, SVP Jon W. Olson sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $103.22, for a total value of $154,830.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin W. Mooney sold 6,020 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $104.41, for a total value of $628,548.20. Following the completion of the sale, the executive vice president now directly owns 79,476 shares in the company, valued at approximately $8,298,089.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,612 shares of company stock worth $9,344,203. 2.19% of the stock is owned by corporate insiders.
Shares of Blackbaud, Inc. (NASDAQ BLKB) opened at $107.60 on Tuesday. The firm has a market capitalization of $5,202.04, a P/E ratio of 78.54, a P/E/G ratio of 5.48 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.40. Blackbaud, Inc. has a fifty-two week low of $74.46 and a fifty-two week high of $116.07.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. The firm had revenue of $216.98 million for the quarter, compared to analyst estimates of $217.29 million. analysts expect that Blackbaud, Inc. will post 2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, February 27th. Blackbaud’s payout ratio is currently 35.04%.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Thursday, February 8th. BidaskClub cut Blackbaud from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. DA Davidson set a $110.00 price target on Blackbaud and gave the stock a “hold” rating in a report on Thursday, March 15th. Finally, B. Riley upped their price target on Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.38.
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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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