Pioneer Investment Management Inc. Reduces Stake in Blackbaud, Inc. (BLKB)
Pioneer Investment Management Inc. cut its position in Blackbaud, Inc. (NASDAQ:BLKB) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 137,502 shares of the technology company’s stock after selling 538 shares during the period. Pioneer Investment Management Inc.’s holdings in Blackbaud were worth $11,791,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Miles Capital Inc. boosted its stake in Blackbaud by 0.3% in the first quarter. Miles Capital Inc. now owns 4,112 shares of the technology company’s stock worth $315,000 after buying an additional 12 shares during the period. World Asset Management Inc boosted its stake in Blackbaud by 0.8% in the second quarter. World Asset Management Inc now owns 3,043 shares of the technology company’s stock worth $261,000 after buying an additional 24 shares during the period. Janney Montgomery Scott LLC boosted its stake in Blackbaud by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 4,234 shares of the technology company’s stock worth $363,000 after buying an additional 54 shares during the period. Ngam Advisors L.P. boosted its stake in Blackbaud by 0.4% in the first quarter. Ngam Advisors L.P. now owns 16,767 shares of the technology company’s stock worth $1,286,000 after buying an additional 66 shares during the period. Finally, Commerce Bank boosted its stake in Blackbaud by 0.8% in the first quarter. Commerce Bank now owns 8,606 shares of the technology company’s stock worth $659,000 after buying an additional 70 shares during the period.
Shares of Blackbaud, Inc. (NASDAQ BLKB) opened at 84.61 on Friday. The firm’s 50-day moving average is $88.52 and its 200-day moving average is $79.98. Blackbaud, Inc. has a one year low of $55.88 and a one year high of $93.81. The company has a market cap of $3.95 billion, a PE ratio of 81.43 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. During the same quarter in the prior year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Blackbaud, Inc. will post $2.14 EPS for the current year.
The business also recently announced 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 yield of 0.57%. The ex-dividend date is Thursday, August 24th. Blackbaud’s dividend payout ratio is currently 47.06%.
A number of equities research analysts recently commented on the stock. B. Riley reaffirmed a “neutral” rating and issued a $78.00 price target on shares of Blackbaud in a report on Monday. Benchmark Co. lowered their price target on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, June 27th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Stifel Nicolaus lifted their price target on shares of Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Finally, Raymond James Financial, Inc. assumed coverage on shares of Blackbaud in a report on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Blackbaud currently has an average rating of “Hold” and an average target price of $81.71.
In related news, EVP John J. Mistretta sold 3,693 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $82.00, for a total value of $302,826.00. Following the sale, the executive vice president now owns 86,278 shares in the company, valued at $7,074,796. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah E. Nash sold 825 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total transaction of $64,902.75. Following the completion of the sale, the director now owns 20,652 shares in the company, valued at approximately $1,624,692.84. The disclosure for this sale can be found here. Insiders sold 15,468 shares of company stock worth $1,306,753 in the last 90 days. 2.74% of the stock is currently owned by corporate 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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