Blackbaud, Inc. (BLKB) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 9.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,896 shares of the technology company’s stock after purchasing an additional 163 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blackbaud were worth $163,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Blackbaud by 145,653.8% during the 1st quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after purchasing an additional 5,737,302 shares during the period. Vanguard Group Inc. grew its stake in shares of Blackbaud by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after purchasing an additional 205,672 shares during the period. Wellington Management Group LLP grew its stake in shares of Blackbaud by 7.7% during the 1st quarter. Wellington Management Group LLP now owns 2,591,699 shares of the technology company’s stock worth $198,705,000 after purchasing an additional 184,366 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Blackbaud by 9.6% during the 1st quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock worth $173,194,000 after purchasing an additional 197,065 shares during the period. Finally, State Street Corp grew its stake in shares of Blackbaud by 7.5% during the 1st quarter. State Street Corp now owns 1,158,864 shares of the technology company’s stock worth $88,849,000 after purchasing an additional 80,891 shares during the period.
Blackbaud, Inc. (NASDAQ BLKB) opened at 83.79 on Tuesday. The stock’s 50 day moving average is $85.15 and its 200-day moving average is $82.81. Blackbaud, Inc. has a 1-year low of $55.88 and a 1-year high of $93.81. The firm has a market capitalization of $3.91 billion, a PE ratio of 80.64 and a beta of 0.82.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The company had revenue of $192.50 million for the quarter, compared to the consensus estimate of $193.66 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Blackbaud’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Blackbaud, Inc. will post $2.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 28th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 24th. Blackbaud’s payout ratio is currently 47.06%.
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A number of equities analysts have recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating and set a $78.00 price target on shares of Blackbaud in a research note on Monday, August 28th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 price target on shares of Blackbaud in a research note on Friday, July 21st. Finally, Benchmark Co. lowered their price target on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Blackbaud presently has an average rating of “Hold” and a consensus target price of $81.71.
In related news, SVP Jon W. Olson sold 5,282 shares of Blackbaud stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the transaction, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kevin W. Mooney sold 2,338 shares of Blackbaud stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $88.00, for a total value of $205,744.00. Following the transaction, the executive vice president now directly owns 83,638 shares in the company, valued at $7,360,144. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,752 shares of company stock worth $1,771,517. 2.74% of the stock is owned by corporate insiders.
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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