US Bancorp DE Grows Holdings in Blackbaud, Inc. (NASDAQ:BLKB)

US Bancorp DE boosted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKBGet Rating) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,969 shares of the technology company’s stock after acquiring an additional 552 shares during the period. US Bancorp DE’s holdings in Blackbaud were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Blackbaud by 2.6% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,621 shares of the technology company’s stock valued at $443,000 after purchasing an additional 196 shares during the last quarter. State of Michigan Retirement System increased its position in Blackbaud by 1.8% during the 2nd quarter. State of Michigan Retirement System now owns 11,548 shares of the technology company’s stock valued at $671,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can raised its stake in Blackbaud by 2.4% during the second quarter. Bank of Montreal Can now owns 9,915 shares of the technology company’s stock valued at $627,000 after buying an additional 236 shares during the last quarter. Sei Investments Co. boosted its holdings in Blackbaud by 2.9% in the second quarter. Sei Investments Co. now owns 8,802 shares of the technology company’s stock worth $490,000 after acquiring an additional 244 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Blackbaud by 2.3% in the second quarter. Thrivent Financial for Lutherans now owns 11,945 shares of the technology company’s stock worth $694,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 97.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BLKB. StockNews.com assumed coverage on shares of Blackbaud in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet upgraded shares of Blackbaud from a “d+” rating to a “c-” rating in a research note on Friday, December 2nd.

Blackbaud Stock Up 0.9 %

BLKB stock opened at $63.52 on Wednesday. The stock has a market capitalization of $3.37 billion, a P/E ratio of -102.45, a P/E/G ratio of 9.37 and a beta of 1.09. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.63 and a quick ratio of 0.63. Blackbaud, Inc. has a 1-year low of $43.54 and a 1-year high of $71.57. The business has a fifty day moving average price of $59.10 and a 200-day moving average price of $55.59.

Blackbaud (NASDAQ:BLKBGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $261.30 million during the quarter, compared to the consensus estimate of $261.38 million. Blackbaud had a positive return on equity of 6.95% and a negative net margin of 3.03%. Equities analysts forecast that Blackbaud, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Kevin P. Gregoire sold 1,023 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $58.78, for a total transaction of $60,131.94. Following the transaction, the chief operating officer now owns 97,358 shares in the company, valued at $5,722,703.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Blackbaud Company Profile

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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