Trillium Asset Management LLC Has $16.58 Million Holdings in Blackbaud, Inc. (BLKB)
Trillium Asset Management LLC lifted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,415 shares of the technology company’s stock after acquiring an additional 2,094 shares during the period. Trillium Asset Management LLC owned 0.34% of Blackbaud worth $16,583,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BLKB. Flagship Harbor Advisors LLC acquired a new position in Blackbaud during the second quarter worth approximately $129,000. Global X Management Co LLC purchased a new stake in shares of Blackbaud in the second quarter valued at approximately $163,000. First Republic Investment Management Inc. purchased a new stake in Blackbaud during the second quarter worth $261,000. ING Groep NV purchased a new stake in Blackbaud during the second quarter worth $270,000. Finally, Brookstone Capital Management purchased a new stake in Blackbaud during the third quarter worth $276,000.
A number of analysts have commented on the company. ValuEngine downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. DA Davidson decreased their target price on Blackbaud from $105.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, October 9th. BidaskClub upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Raymond James downgraded Blackbaud from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 9th. Finally, Benchmark cut Blackbaud from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $94.71.
Shares of NASDAQ BLKB traded down $1.72 during trading on Monday, reaching $70.32. The company had a trading volume of 4,050 shares, compared to its average volume of 515,893. Blackbaud, Inc. has a twelve month low of $65.51 and a twelve month high of $120.35. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 44.21, a price-to-earnings-growth ratio of 5.10 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.15.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The company had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.50 million. Blackbaud had a return on equity of 25.79% and a net margin of 7.84%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, analysts anticipate that Blackbaud, Inc. will post 1.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $0.48 annualized dividend and a yield of 0.68%. Blackbaud’s payout ratio is currently 30.19%.
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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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