Amalgamated Bank grew its position in Blackbaud, Inc. (NASDAQ:BLKB) by 128.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,577 shares of the technology company’s stock after purchasing an additional 4,261 shares during the quarter. Amalgamated Bank’s holdings in Blackbaud were worth $477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC bought a new stake in Blackbaud during the third quarter worth $129,000. Panagora Asset Management Inc. bought a new stake in Blackbaud during the third quarter worth $1,442,000. Virtu Financial LLC bought a new stake in Blackbaud during the third quarter worth $288,000. Riverhead Capital Management LLC lifted its holdings in Blackbaud by 32.5% during the third quarter. Riverhead Capital Management LLC now owns 6,521 shares of the technology company’s stock worth $662,000 after acquiring an additional 1,600 shares during the period. Finally, Laurion Capital Management LP bought a new stake in Blackbaud during the third quarter worth $539,000.

A number of analysts recently commented on the company. BidaskClub upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Zacks Investment Research lowered Blackbaud from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. DA Davidson lowered their target price on Blackbaud to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 3rd. Finally, Stephens lowered Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 target price on the stock. in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $88.63.

In other news, insider Michael P. Gianoni sold 6,763 shares of Blackbaud stock in a transaction on Friday, February 15th. The stock was sold at an average price of $77.43, for a total value of $523,659.09. Following the completion of the transaction, the insider now directly owns 319,671 shares in the company, valued at $24,752,125.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy C. K. Chou sold 750 shares of Blackbaud stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $77.45, for a total value of $58,087.50. Following the completion of the transaction, the director now owns 20,514 shares of the company’s stock, valued at $1,588,809.30. The disclosure for this sale can be found here. Over 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.

Shares of NASDAQ BLKB opened at $82.26 on Thursday. The firm has a market capitalization of $3.99 billion, a PE ratio of 43.99, a P/E/G ratio of 7.74 and a beta of 1.31. Blackbaud, Inc. has a fifty-two week low of $58.23 and a fifty-two week 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 announced its quarterly earnings results on Wednesday, February 6th. The technology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. The company had revenue of $221.79 million during the quarter, compared to analysts’ expectations of $220.40 million. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts predict that Blackbaud, Inc. will post 1.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 27th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, February 26th. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.

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About Blackbaud

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, and Blackbaud School Website System.

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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