Night Owl Capital Management LLC lowered its position in Blackbaud, Inc. (NASDAQ:BLKB) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,999 shares of the technology company’s stock after selling 807 shares during the quarter. Blackbaud accounts for approximately 3.7% of Night Owl Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Night Owl Capital Management LLC owned approximately 0.17% of Blackbaud worth $7,937,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new stake in Blackbaud during the 4th quarter valued at approximately $157,000. First Republic Investment Management Inc. acquired a new stake in Blackbaud during the 4th quarter valued at approximately $204,000. Two Sigma Advisers LP acquired a new stake in Blackbaud during the 4th quarter valued at approximately $217,000. Shelton Capital Management acquired a new stake in Blackbaud during the 3rd quarter valued at approximately $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Blackbaud by 47.3% during 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 period.
In related news, SVP Jon W. Olson sold 1,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $103.22, for a total value of $154,830.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $400,487.75. Following the completion of the transaction, the insider now owns 256,966 shares in the company, valued at $24,357,807.14. The disclosure for this sale can be found here. Insiders have sold a total of 94,612 shares of company stock worth $9,344,203 over the last 90 days. Company insiders own 2.19% of the company’s stock.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $216.98 million for the quarter, compared to analysts’ expectations of $217.29 million. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. sell-side analysts anticipate that Blackbaud, Inc. will post 2.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s payout ratio is 35.04%.
A number of analysts have weighed in on BLKB shares. BidaskClub downgraded shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Zacks Investment Research cut Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. DA Davidson began coverage on Blackbaud in a report on Friday, February 2nd. They set a “neutral” rating and a $95.00 price target on the stock. Stifel Nicolaus increased their price target on Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, B. Riley increased their price target on Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $97.50.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/03/14/night-owl-capital-management-llc-has-7-94-million-stake-in-blackbaud-inc-blkb.html.
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).
Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKB).
Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.