Envestnet Asset Management Inc. reduced its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,081 shares of the technology company’s stock after selling 1,836 shares during the period. Envestnet Asset Management Inc.’s holdings in Blackbaud were worth $1,803,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in Blackbaud in the 4th quarter worth about $157,000. First Republic Investment Management Inc. purchased a new stake in Blackbaud in the 4th quarter worth about $204,000. Zeke Capital Advisors LLC purchased a new stake in Blackbaud in the 4th quarter worth about $213,000. Two Sigma Advisers LP purchased a new stake in Blackbaud in the 4th quarter worth about $217,000. Finally, LPL Financial LLC purchased a new stake in Blackbaud in the 4th quarter worth about $244,000.
In other news, insider Michael P. Gianoni sold 4,225 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $94.79, for a total transaction of $400,487.75. Following the completion of the sale, the insider now directly owns 256,966 shares of the company’s stock, valued at approximately $24,357,807.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Gianoni sold 28,839 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $96.84, for a total value of $2,792,768.76. Following the sale, the insider now directly owns 332,419 shares of the company’s stock, valued at $32,191,455.96. The disclosure for this sale can be found here. Insiders have sold a total of 94,612 shares of company stock valued at $9,344,203 over the last ninety days. Company insiders own 2.19% of the company’s stock.
BLKB opened at $103.65 on Tuesday. Blackbaud, Inc. has a fifty-two week low of $75.80 and a fifty-two week high of $116.07. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $4,975.12, a PE ratio of 65.19, a PEG ratio of 5.24 and a beta of 0.65.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. The company had revenue of $216.98 million during the quarter, compared to the consensus estimate of $217.29 million. research analysts forecast that Blackbaud, Inc. will post 2.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is presently 30.19%.
BLKB has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Blackbaud from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. BidaskClub downgraded Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. DA Davidson initiated coverage on Blackbaud in a research note on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price objective for the company. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, February 8th. Finally, B. Riley increased their price objective on Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.25.
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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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