Parametric Portfolio Associates LLC Decreases Holdings in Blackbaud, Inc. (BLKB)
Parametric Portfolio Associates LLC cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 5.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,648 shares of the technology company’s stock after selling 8,020 shares during the quarter. Parametric Portfolio Associates LLC owned 0.31% of Blackbaud worth $12,489,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in BLKB. Northwestern Mutual Wealth Management Co. boosted its position in Blackbaud by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after acquiring an additional 39 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Blackbaud by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after acquiring an additional 163 shares during the period. Investment Centers of America Inc. acquired a new stake in Blackbaud during the 2nd quarter worth about $203,000. Cypress Wealth Advisors LLC acquired a new stake in Blackbaud during the 1st quarter worth about $208,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Blackbaud during the 1st quarter worth about $218,000.
In other news, SVP Jon W. Olson sold 5,282 shares of the company’s 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sarah E. Nash sold 1,105 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $84.78, for a total value of $93,681.90. Following the transaction, the director now directly owns 22,272 shares of the company’s stock, valued at $1,888,220.16. The disclosure for this sale can be found here. Insiders have sold 20,752 shares of company stock valued at $1,771,517 over the last ninety days. 2.19% of the stock is owned by insiders.
Shares of Blackbaud, Inc. (BLKB) opened at 88.90 on Tuesday. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 85.56 and a beta of 0.84. Blackbaud, Inc. has a one year low of $55.88 and a one year high of $93.81. The stock’s 50 day moving average price is $85.09 and its 200 day moving average price is $84.02.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.12). Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The business had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Blackbaud, Inc. will post $2.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Blackbaud’s dividend payout ratio is currently 47.06%.
A number of brokerages have commented on BLKB. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Robert W. Baird set a $85.00 price objective on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Citigroup Inc. began coverage on Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective for the company. B. Riley restated a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a research report on Monday, August 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Blackbaud currently has an average rating of “Hold” and a consensus price target of $85.25.
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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