Alliancebernstein L.P. boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 508,235 shares of the technology company’s stock after purchasing an additional 13,760 shares during the quarter. Alliancebernstein L.P.’s holdings in Blackbaud were worth $48,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Blackbaud during the 4th quarter worth approximately $157,000. First Republic Investment Management Inc. bought a new stake in Blackbaud during the 4th quarter worth approximately $204,000. Shelton Capital Management bought a new stake in Blackbaud during the 3rd quarter worth approximately $235,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Blackbaud by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock valued at $264,000 after purchasing an additional 897 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Blackbaud in the 4th quarter valued at $274,000.

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BLKB has been the topic of a number of analyst reports. BidaskClub lowered shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. DA Davidson initiated coverage on shares of Blackbaud in a research note on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, February 8th. B. Riley upped their price objective on shares of Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their price objective on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Blackbaud presently has a consensus rating of “Hold” and a consensus price target of $97.50.

In related news, CFO Anthony W. Boor sold 10,954 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the transaction, the chief financial officer now directly owns 125,224 shares of the company’s stock, valued at $11,823,650.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael P. Gianoni sold 4,225 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $94.79, for a total transaction of $400,487.75. Following the transaction, the insider now directly owns 256,966 shares in the company, valued at $24,357,807.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,612 shares of company stock worth $9,344,203. 2.19% of the stock is owned by insiders.

Shares of Blackbaud, Inc. (BLKB) opened at $107.54 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.81. Blackbaud, Inc. has a 12 month low of $74.46 and a 12 month high of $116.07. The company has a market cap of $5,348.68, a price-to-earnings ratio of 78.50, a PEG ratio of 5.63 and a beta of 0.66.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date is Tuesday, February 27th. Blackbaud’s dividend payout ratio is presently 35.04%.

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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).

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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