Dimensional Fund Advisors LP reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 10.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 646,393 shares of the technology company’s stock after selling 71,879 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.33% of Blackbaud worth $65,809,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of BLKB. BlackRock Inc. raised its holdings in Blackbaud by 2.3% during the 1st quarter. BlackRock Inc. now owns 5,175,126 shares of the technology company’s stock valued at $526,879,000 after buying an additional 118,790 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Blackbaud by 464.6% during the 4th quarter. Guggenheim Capital LLC now owns 94,602 shares of the technology company’s stock valued at $8,939,000 after buying an additional 77,847 shares during the last quarter. State of Tennessee Treasury Department bought a new stake in Blackbaud during the 4th quarter valued at $6,614,000. Federated Investors Inc. PA raised its holdings in Blackbaud by 345.5% during the 1st quarter. Federated Investors Inc. PA now owns 86,084 shares of the technology company’s stock valued at $8,764,000 after buying an additional 66,761 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in Blackbaud during the 4th quarter valued at $4,887,000.
In related news, SVP Jon W. Olson sold 1,000 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the sale, the senior vice president now directly owns 41,169 shares of the company’s stock, valued at approximately $4,322,745. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joyce Nelson sold 2,000 shares of the stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $101.75, for a total transaction of $203,500.00. Following the sale, the director now directly owns 13,906 shares in the company, valued at $1,414,935.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,669 shares of company stock valued at $1,535,745. 1.55% of the stock is owned by company insiders.
BLKB has been the subject of several research reports. BidaskClub upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Evercore ISI lowered shares of Blackbaud from an “in” rating to an “underperform” rating in a report on Monday, March 12th. DA Davidson set a $110.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a report on Thursday, March 15th. Stifel Nicolaus upped their price objective on shares of Blackbaud from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 22nd. Finally, ValuEngine upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $103.14.
Shares of NASDAQ BLKB opened at $109.89 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.71 and a quick ratio of 0.71. Blackbaud, Inc. has a 12 month low of $81.64 and a 12 month high of $116.07. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 61.52, a P/E/G ratio of 4.55 and a beta of 0.63.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, April 30th. The technology company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.07. The business had revenue of $204.18 million during the quarter, compared to analyst estimates of $204.29 million. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. equities research analysts expect that Blackbaud, Inc. will post 2.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 25th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. Blackbaud’s payout ratio is 30.19%.
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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