Jefferies Group LLC Grows Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

Jefferies Group LLC increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,392 shares of the technology company’s stock after purchasing an additional 898 shares during the quarter. Jefferies Group LLC’s holdings in Blackbaud were worth $604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BLKB. BlackRock Inc. increased its position in Blackbaud by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock worth $477,772,000 after purchasing an additional 85,826 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Blackbaud by 11.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock worth $69,001,000 after purchasing an additional 72,430 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in Blackbaud during the 4th quarter worth approximately $6,614,000. Renaissance Technologies LLC acquired a new position in Blackbaud during the 4th quarter worth approximately $4,431,000. Finally, Brown Advisory Inc. increased its position in Blackbaud by 6.3% during the 3rd quarter. Brown Advisory Inc. now owns 727,400 shares of the technology company’s stock worth $63,866,000 after purchasing an additional 42,871 shares in the last quarter.

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Shares of NASDAQ:BLKB traded up $1.18 during trading on Thursday, reaching $107.08. The stock had a trading volume of 128,683 shares, compared to its average volume of 284,555. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.81 and a current ratio of 0.81. Blackbaud, Inc. has a 52 week low of $75.80 and a 52 week high of $116.07. The firm has a market cap of $5,036.18, a P/E ratio of 67.27, a P/E/G ratio of 5.30 and a beta of 0.65.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Blackbaud had a net margin of 8.36% and a return on equity of 29.21%. The company had revenue of $216.98 million for the quarter, compared to analyst estimates of $217.29 million. sell-side analysts anticipate that Blackbaud, Inc. will post 2.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, February 27th. Blackbaud’s dividend payout ratio is currently 30.19%.

In related news, insider Michael P. Gianoni sold 28,839 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $96.84, for a total transaction of $2,792,768.76. Following the transaction, the insider now directly owns 332,419 shares of the company’s stock, valued at $32,191,455.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 1,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $103.22, for a total transaction of $154,830.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,612 shares of company stock worth $9,344,203. Insiders own 2.19% of the company’s stock.

A number of research firms recently issued reports on BLKB. DA Davidson set a $110.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday, March 15th. Evercore ISI cut shares of Blackbaud from an “in” rating to an “underperform” rating in a research report on Monday, March 12th. Zacks Investment Research cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $101.25.

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Blackbaud 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).

Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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