Suntrust Banks Inc. cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,094 shares of the technology company’s stock after selling 2,517 shares during the quarter. Suntrust Banks Inc.’s holdings in Blackbaud were worth $1,389,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BLKB. BlackRock Inc. grew its stake in shares of Blackbaud by 1.2% during the 4th quarter. BlackRock Inc. now owns 5,632,690 shares of the technology company’s stock worth $354,295,000 after acquiring an additional 67,260 shares during the period. Atlanta Capital Management Co. L L C grew its stake in shares of Blackbaud by 8.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock worth $291,799,000 after acquiring an additional 355,998 shares during the period. Vanguard Group Inc. grew its stake in shares of Blackbaud by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after acquiring an additional 99,637 shares during the period. Vanguard Group Inc grew its stake in shares of Blackbaud by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after acquiring an additional 99,637 shares during the period. Finally, Capital World Investors bought a new position in shares of Blackbaud during the 3rd quarter worth $142,326,000.

In other Blackbaud news, Director Timothy C. K. Chou sold 750 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $77.45, for a total value of $58,087.50. Following the sale, the director now owns 20,514 shares of the company’s stock, valued at approximately $1,588,809.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Gianoni sold 6,763 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $77.43, for a total value of $523,659.09. Following the completion of the sale, the insider now directly owns 319,671 shares in the company, valued at approximately $24,752,125.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,432 shares of company stock worth $6,661,485. Insiders own 1.55% of the company’s stock.

Several research analysts have recently weighed in on BLKB shares. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Wednesday, January 2nd. BidaskClub upgraded Blackbaud from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. DA Davidson cut their target price on Blackbaud to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 3rd. Finally, Stephens initiated coverage on Blackbaud in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Blackbaud presently has an average rating of “Hold” and an average target price of $87.38.

Shares of NASDAQ BLKB opened at $77.73 on Thursday. Blackbaud, Inc. has a 52 week low of $58.23 and a 52 week high of $120.35. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 41.57, a P/E/G ratio of 7.35 and a beta of 1.31.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, February 6th. The technology company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The business had revenue of $221.79 million during the quarter, compared to the consensus estimate of $220.40 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Blackbaud, Inc. will post 1.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 27th were paid a $0.12 dividend. The ex-dividend date was Tuesday, February 26th. This represents a $0.48 annualized dividend and a yield of 0.62%. Blackbaud’s dividend payout ratio is currently 25.67%.

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Blackbaud Profile

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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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