Citigroup Inc. boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 76.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,694 shares of the technology company’s stock after buying an additional 8,126 shares during the period. Citigroup Inc.’s holdings in Blackbaud were worth $1,176,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of BLKB. Capital World Investors bought a new position in shares of Blackbaud in the third quarter worth about $142,326,000. Daiwa SB Investments Ltd. bought a new position in shares of Blackbaud in the fourth quarter worth about $8,895,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Blackbaud by 15.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,001,431 shares of the technology company’s stock worth $62,990,000 after acquiring an additional 135,533 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Blackbaud by 2.3% in the third quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after acquiring an additional 99,637 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Blackbaud by 2.3% in the third quarter. Vanguard Group Inc. now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after acquiring an additional 99,637 shares during the last quarter.
Shares of NASDAQ BLKB opened at $77.40 on Friday. The company has a market capitalization of $3.83 billion, a P/E ratio of 41.39, a price-to-earnings-growth ratio of 7.44 and a beta of 1.31. Blackbaud, Inc. has a 1 year low of $58.23 and a 1 year high of $120.35. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.74 and a quick ratio of 0.74.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $221.79 million during the quarter, compared to analyst estimates of $220.40 million. Blackbaud had a net margin of 5.28% and a return on equity of 24.41%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. Analysts forecast that Blackbaud, Inc. will post 1.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 27th were issued a $0.12 dividend. The ex-dividend date was Tuesday, February 26th. This represents a $0.48 dividend on an annualized basis and a yield of 0.62%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.
In other Blackbaud news, CFO Anthony W. Boor sold 13,585 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $77.34, for a total transaction of $1,050,663.90. Following the completion of the transaction, the chief financial officer now owns 120,863 shares in the company, valued at approximately $9,347,544.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 9,606 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $77.82, for a total transaction of $747,538.92. Following the transaction, the chief financial officer now owns 92,016 shares of the company’s stock, valued at approximately $7,160,685.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,432 shares of company stock valued at $6,661,485. 1.55% of the stock is owned by company insiders.
A number of research firms have recently commented on BLKB. BidaskClub raised shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Stephens initiated coverage on shares of Blackbaud in a report on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 price objective for the company. Finally, DA Davidson dropped their price objective on shares of Blackbaud to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $87.38.
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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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