Blackbaud, Inc. (BLKB) Director George H. Ellis Sells 1,500 Shares
Blackbaud, Inc. (NASDAQ:BLKB) Director George H. Ellis sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $101.47, for a total value of $152,205.00. Following the sale, the director now owns 7,511 shares of the company’s stock, valued at $762,141.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The firm had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s dividend payout ratio (DPR) is currently 44.04%.
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A number of hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its stake in Blackbaud by 3,775.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 17,709 shares of the technology company’s stock worth $1,555,000 after purchasing an additional 17,252 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in Blackbaud by 48.1% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,250 shares of the technology company’s stock worth $812,000 after purchasing an additional 3,005 shares during the last quarter. Prudential Financial Inc. lifted its stake in Blackbaud by 1.7% during the third quarter. Prudential Financial Inc. now owns 32,760 shares of the technology company’s stock worth $2,876,000 after purchasing an additional 544 shares during the last quarter. Trillium Asset Management LLC lifted its stake in Blackbaud by 41.8% during the third quarter. Trillium Asset Management LLC now owns 152,051 shares of the technology company’s stock worth $13,350,000 after purchasing an additional 44,817 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Blackbaud by 3.7% during the third quarter. American Century Companies Inc. now owns 36,829 shares of the technology company’s stock worth $3,234,000 after purchasing an additional 1,298 shares during the last quarter.
A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Monday. Dougherty & Co started coverage on Blackbaud in a report on Tuesday. They set a “neutral” rating for the company. Citigroup Inc. set a $112.00 price target on Blackbaud and gave the stock a “buy” rating in a report on Friday, October 27th. Robert W. Baird boosted their price target on Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Finally, B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $91.44.
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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