Wells Fargo & Company MN Has $5.29 Million Holdings in Blackbaud, Inc. (BLKB)
Wells Fargo & Company MN raised its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,667 shares of the technology company’s stock after buying an additional 1,068 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Blackbaud worth $5,288,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of BLKB. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 buying an additional 163 shares in the last quarter. Cypress Wealth Advisors LLC purchased a new stake in Blackbaud in the 1st quarter valued at $208,000. Piedmont Investment Advisors LLC purchased a new stake in Blackbaud in the 1st quarter valued at $218,000. Summit Securities Group LLC purchased a new stake in Blackbaud in the 2nd quarter valued at $235,000. Finally, LS Investment Advisors LLC grew its holdings in Blackbaud by 71.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,822 shares of the technology company’s stock valued at $242,000 after buying an additional 1,173 shares in the last quarter.
Blackbaud, Inc. (NASDAQ:BLKB) opened at 89.96 on Thursday. Blackbaud, Inc. has a 52 week low of $55.88 and a 52 week high of $93.81. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 86.58 and a beta of 0.84. The stock has a 50 day moving average price of $85.39 and a 200 day moving average price of $84.16.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.12). The business had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. Blackbaud’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. Equities research analysts expect that Blackbaud, Inc. will post $2.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Thursday, August 24th. Blackbaud’s dividend payout ratio (DPR) is presently 47.06%.
Several analysts have issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $96.00 target price on shares of Blackbaud in a report on Friday, July 21st. Benchmark Co. decreased their price target on Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. B. Riley reaffirmed a “neutral” rating and issued a $78.00 price target on shares of Blackbaud in a research note on Wednesday, August 2nd. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Robert W. Baird set a $85.00 price target on Blackbaud and gave the company a “hold” rating in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.25.
In other Blackbaud news, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was 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 of the company’s stock, valued at $1,888,220.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jon W. Olson sold 5,282 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the sale, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at approximately $4,275,685.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,752 shares of company stock valued at $1,771,517. 2.19% of the stock is owned by company insiders.
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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