Aperio Group LLC Increases Position in Blackbaud, Inc. (NASDAQ:BLKB)
Aperio Group LLC boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 11.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,977 shares of the technology company’s stock after buying an additional 2,204 shares during the period. Aperio Group LLC’s holdings in Blackbaud were worth $1,885,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Blackbaud by 27.1% in the second quarter. Nisa Investment Advisors LLC now owns 27,220 shares of the technology company’s stock worth $2,332,000 after buying an additional 5,800 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of Blackbaud by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,822 shares of the technology company’s stock worth $242,000 after buying an additional 1,173 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Blackbaud by 1.5% in the second quarter. Eqis Capital Management Inc. now owns 14,456 shares of the technology company’s stock worth $1,240,000 after buying an additional 207 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Blackbaud by 5.1% in the second quarter. GW&K Investment Management LLC now owns 787,141 shares of the technology company’s stock worth $67,497,000 after buying an additional 38,250 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Blackbaud during the first quarter worth $218,000.
Blackbaud, Inc. (BLKB) traded down 1.71% on Thursday, hitting $85.18. The stock had a trading volume of 24,261 shares. Blackbaud, Inc. has a 12-month low of $55.88 and a 12-month high of $93.81. The company’s 50 day moving average price is $88.68 and its 200-day moving average price is $79.82. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 81.98 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.12. The company had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities research analysts anticipate that Blackbaud, Inc. will post $2.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, August 24th. Blackbaud’s dividend payout ratio (DPR) is 47.06%.
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A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday. B. Riley reiterated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a research note on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. Benchmark Co. reduced their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, June 27th. Finally, Raymond James Financial, Inc. assumed coverage on Blackbaud in a research note on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $81.71.
In related news, EVP John J. Mistretta sold 596 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $82.00, for a total value of $48,872.00. Following the sale, the executive vice president now owns 86,278 shares of the company’s stock, valued at approximately $7,074,796. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John J. Mistretta sold 4,016 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $83.00, for a total value of $333,328.00. Following the completion of the sale, the executive vice president now directly owns 87,165 shares in the company, valued at approximately $7,234,695. The disclosure for this sale can be found here. In the last three months, insiders sold 15,468 shares of company stock worth $1,306,753. Company insiders own 2.74% of the company’s stock.
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).
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