EAM Investors LLC Sells 7,098 Shares of Blackbaud, Inc. (BLKB)
EAM Investors LLC lowered its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,472 shares of the technology company’s stock after selling 7,098 shares during the quarter. EAM Investors LLC’s holdings in Blackbaud were worth $2,061,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. ETF Managers Group LLC bought a new position in Blackbaud in the 2nd quarter valued at $125,000. Northwestern Mutual Wealth Management Co. grew its stake in Blackbaud by 2.6% in the 2nd 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 during the period. QS Investors LLC grew its stake in Blackbaud by 157.1% in the 2nd 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Blackbaud by 9.4% in the 2nd 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 during the period. Finally, Investment Centers of America Inc. bought a new position in Blackbaud in the 2nd quarter valued at $203,000.
Blackbaud, Inc. (NASDAQ BLKB) opened at $102.43 on Friday. Blackbaud, Inc. has a 1 year low of $59.54 and a 1 year high of $104.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $4,925.82, a price-to-earnings ratio of 60.97, a PEG ratio of 6.35 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The firm had revenue of $195.51 million for the quarter, compared to analysts’ expectations of $196.35 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts forecast that Blackbaud, Inc. will post 1.55 earnings per share for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.47%. Blackbaud’s dividend payout ratio is presently 44.04%.
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In other news, SVP Jon W. Olson sold 5,282 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the transaction, the senior vice president now owns 50,756 shares of the company’s stock, valued at approximately $4,275,685.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Boruff sold 800 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total value of $83,160.00. Following the transaction, the executive vice president now directly owns 50,862 shares in the company, valued at approximately $5,287,104.90. The disclosure for this sale can be found here. Insiders have sold a total of 14,937 shares of company stock worth $1,417,879 in the last ninety days. Insiders own 2.19% of the company’s stock.
A number of brokerages have issued reports on BLKB. B. Riley restated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a research note on Wednesday, August 2nd. Robert W. Baird set a $85.00 price objective on Blackbaud and gave the company a “hold” rating in a research note on Sunday, October 1st. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Finally, Dougherty & Co began coverage on Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $94.75.
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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