First Trust Advisors LP lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 63.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,719 shares of the technology company’s stock after selling 20,175 shares during the quarter. First Trust Advisors LP’s holdings in Blackbaud were worth $1,189,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in Blackbaud in the 2nd quarter worth approximately $129,000. Global X Management Co LLC bought a new stake in Blackbaud in the 2nd quarter worth approximately $163,000. First Republic Investment Management Inc. bought a new stake in Blackbaud in the 2nd quarter worth approximately $261,000. ING Groep NV bought a new stake in Blackbaud in the 2nd quarter worth approximately $270,000. Finally, Greenwood Capital Associates LLC lifted its position in Blackbaud by 23.7% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,737 shares of the technology company’s stock worth $280,000 after buying an additional 525 shares during the last quarter.
Shares of Blackbaud stock opened at $66.07 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 4.86 and a beta of 1.12. Blackbaud, Inc. has a one year low of $65.44 and a one year high of $120.35.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, October 29th. The technology company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $209.50 million for 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities analysts expect that Blackbaud, Inc. will post 1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.73%. Blackbaud’s dividend payout ratio (DPR) is currently 30.19%.
BLKB has been the subject of a number of recent research reports. Stifel Nicolaus downgraded Blackbaud from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $88.00 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. Robert W. Baird dropped their target price on Blackbaud from $105.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, October 12th. JMP Securities downgraded Blackbaud from an “outperform” rating to a “market perform” rating and set a $116.00 target price for the company. in a research report on Tuesday, October 9th. Finally, ValuEngine downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $94.71.
In other Blackbaud news, Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $73.03, for a total value of $73,030.00. Following the transaction, the director now directly owns 15,051 shares of the company’s stock, valued at approximately $1,099,174.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.55% of the stock is owned by insiders.
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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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