Empire Life Investments Inc. increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 24.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,126 shares of the technology company’s stock after acquiring an additional 1,194 shares during the period. Empire Life Investments Inc.’s holdings in Blackbaud were worth $385,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BLKB. First Hawaiian Bank grew its position in Blackbaud by 75.5% during the 4th quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock worth $27,000 after acquiring an additional 188 shares during the last quarter. FMR LLC acquired a new position in Blackbaud during the 3rd quarter worth about $129,000. Jane Street Group LLC acquired a new position in Blackbaud during the 3rd quarter worth about $203,000. NJ State Employees Deferred Compensation Plan lifted its holdings in Blackbaud by 33.3% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 4,000 shares of the technology company’s stock worth $252,000 after buying an additional 1,000 shares during the period. Finally, BSW Wealth Partners acquired a new position in Blackbaud during the 3rd quarter worth about $265,000.
Several brokerages have commented on BLKB. BidaskClub downgraded Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Stephens began coverage on Blackbaud in a report on Wednesday, January 16th. They set an “overweight” rating and a $86.00 target price on the stock. Finally, DA Davidson cut their target price on Blackbaud to $65.00 and set a “neutral” rating on the stock in a report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.38.
Shares of NASDAQ:BLKB opened at $72.26 on Monday. The stock has a market capitalization of $3.51 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 6.11 and a beta of 1.21. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.74. Blackbaud, Inc. has a 1 year low of $58.23 and a 1 year high of $120.35.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The company had revenue of $221.79 million for the quarter, compared to the consensus estimate of $220.40 million. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, equities research analysts forecast that Blackbaud, Inc. will post 1.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Wednesday, February 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, February 26th. Blackbaud’s dividend payout ratio is 25.67%.
In other news, Director Timothy C. K. Chou sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $70.88, for a total value of $70,880.00. Following the transaction, the director now directly owns 21,264 shares of the company’s stock, valued at approximately $1,507,192.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is owned by insiders.
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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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