Blackbaud, Inc. (BLKB) Position Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,252 shares of the technology company’s stock after acquiring an additional 10,517 shares during the period. Schwab Charles Investment Management Inc. owned 0.45% of Blackbaud worth $18,900,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Allen Investment Management LLC raised its holdings in shares of Blackbaud by 69.1% during the second quarter. Allen Investment Management LLC now owns 18,541 shares of the technology company’s stock worth $1,590,000 after purchasing an additional 7,579 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Blackbaud by 6.0% during the second quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after purchasing an additional 51,747 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Blackbaud during the second quarter worth $1,476,000. Nationwide Fund Advisors raised its holdings in shares of Blackbaud by 27.2% during the second quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock worth $37,002,000 after purchasing an additional 92,379 shares during the period. Finally, Sciencast Management LP acquired a new stake in shares of Blackbaud during the second quarter worth $403,000.
A number of analysts have weighed in on the stock. Citigroup assumed coverage on shares of Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Monday, October 30th. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a report on Thursday, October 26th. Robert W. Baird set a $85.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a report on Sunday, October 1st. Finally, Dougherty & Co assumed coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $94.75.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The business had revenue of $195.51 million for 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. analysts expect that Blackbaud, Inc. will post 1.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. Blackbaud’s dividend payout ratio is presently 44.04%.
In related news, EVP Brian Boruff sold 800 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the transaction, the executive vice president now owns 50,862 shares in the company, valued at approximately $5,287,104.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the transaction, the chief financial officer now owns 105,342 shares of the company’s stock, valued at approximately $10,350,904.92. The disclosure for this sale can be found here. Insiders sold a total of 9,655 shares of company stock valued at $972,923 in the last quarter. 2.19% of the stock is currently owned by insiders.
Blackbaud Company Profile
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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