California State Teachers Retirement System cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,904 shares of the technology company’s stock after selling 1,644 shares during the period. California State Teachers Retirement System owned about 0.15% of Blackbaud worth $5,892,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc grew its position in shares of Blackbaud by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock valued at $455,982,000 after buying an additional 99,637 shares during the last quarter. Arizona State Retirement System grew its position in shares of Blackbaud by 1.1% in the 4th quarter. Arizona State Retirement System now owns 34,860 shares of the technology company’s stock valued at $2,193,000 after buying an additional 363 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Blackbaud by 32.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 10,130 shares of the technology company’s stock valued at $637,000 after buying an additional 2,500 shares during the last quarter. Rhumbline Advisers grew its position in shares of Blackbaud by 58.4% in the 4th quarter. Rhumbline Advisers now owns 150,050 shares of the technology company’s stock valued at $9,438,000 after buying an additional 55,298 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Blackbaud by 104.9% in the 4th quarter. SG Americas Securities LLC now owns 18,964 shares of the technology company’s stock valued at $1,193,000 after buying an additional 9,710 shares during the last quarter.
In related news, Director Timothy C. K. Chou sold 400 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $76.98, for a total transaction of $30,792.00. Following the sale, the director now owns 20,114 shares in the company, valued at approximately $1,548,375.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin W. Mooney sold 8,858 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $80.00, for a total value of $708,640.00. Following the sale, the executive vice president now owns 92,901 shares in the company, valued at approximately $7,432,080. The disclosure for this sale can be found here. 1.55% of the stock is owned by corporate insiders.
Shares of Blackbaud stock opened at $77.91 on Wednesday. Blackbaud, Inc. has a one year low of $58.23 and a one year high of $120.35. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $3.81 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 7.23 and a beta of 1.20.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The company had revenue of $215.83 million for the quarter, compared to analyst estimates of $212.32 million. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Blackbaud, Inc. will post 1.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. Blackbaud’s payout ratio is 25.67%.
A number of research firms have commented on BLKB. BidaskClub lowered Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson upped their price target on Blackbaud to $75.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. Zacks Investment Research lowered Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Stephens lowered Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price target on the stock. in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.14.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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