Bessemer Group Inc. Increases Position in Blackbaud, Inc. (BLKB)
Bessemer Group Inc. lifted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 159.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,514 shares of the technology company’s stock after purchasing an additional 20,609 shares during the period. Bessemer Group Inc. owned approximately 0.07% of Blackbaud worth $2,942,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. ETF Managers Group LLC acquired a new position in shares of Blackbaud in the second quarter valued at approximately $125,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after purchasing an additional 39 shares in the last quarter. QS Investors LLC grew its holdings in shares of Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after purchasing an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new position in shares of Blackbaud in the second quarter valued at approximately $203,000.
In other news, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total transaction of $93,681.90. Following the completion of the sale, the director now owns 22,272 shares in the company, valued at approximately $1,888,220.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin W. Mooney sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total transaction of $91,053.00. Following the sale, the executive vice president now owns 77,711 shares of the company’s stock, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. Insiders have sold a total of 15,803 shares of company stock valued at $1,397,190 in the last 90 days. Insiders own 2.19% of the company’s stock.
BLKB has been the subject of a number of research reports. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Dougherty & Co began coverage on shares of Blackbaud in a report on Tuesday, October 31st. They set a “neutral” rating for the company. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the stock a “hold” rating in a report on Sunday, October 1st. Finally, Citigroup Inc. began coverage on shares of Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $91.44.
Blackbaud, Inc. (NASDAQ BLKB) traded up $0.98 during midday trading on Monday, reaching $99.43. 160,300 shares of the company’s stock traded hands, compared to its average volume of 317,019. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud, Inc. has a 12 month low of $59.54 and a 12 month high of $103.41. The firm has a market cap of $4,781.55, a PE ratio of 59.19, a PEG ratio of 4.03 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $195.51 million during the quarter, compared to analysts’ expectations of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. sell-side analysts predict that Blackbaud, Inc. will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. Blackbaud’s dividend payout ratio is presently 44.04%.
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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