Alliancebernstein L.P. raised its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 508,235 shares of the technology company’s stock after purchasing an additional 13,760 shares during the period. Alliancebernstein L.P. owned approximately 1.06% of Blackbaud worth $48,023,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of Blackbaud in the 4th quarter valued at approximately $157,000. First Republic Investment Management Inc. acquired a new position in shares of Blackbaud in the 4th quarter valued at approximately $204,000. Shelton Capital Management acquired a new position in shares of Blackbaud in the 3rd quarter valued at approximately $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 buying an additional 897 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Blackbaud in the 4th quarter valued at approximately $274,000.
In other Blackbaud news, SVP Jon W. Olson sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $103.22, for a total transaction of $154,830.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 6,089 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $100.00, for a total transaction of $608,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,612 shares of company stock valued at $9,344,203. 2.19% of the stock is owned by corporate insiders.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The business had revenue of $216.98 million during the quarter, compared to analysts’ expectations of $217.29 million. Blackbaud had a net margin of 8.36% and a return on equity of 29.21%. analysts anticipate that Blackbaud, Inc. will post 2.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio is 35.04%.
Several equities analysts have recently commented on BLKB shares. BidaskClub cut shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Stifel Nicolaus boosted their target price on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Thursday, February 8th. B. Riley upped their price objective on shares of Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, DA Davidson began coverage on shares of Blackbaud in a research report on Friday, February 2nd. They set a “neutral” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.50.
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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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