BlackRock Inc. decreased its stake in Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,227,254 shares of the technology company’s stock after selling 62,141 shares during the period. BlackRock Inc. owned approximately 0.10% of Blackbaud worth $230,313,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in shares of Blackbaud by 0.6% during the third quarter. Amalgamated Bank now owns 31,217 shares of the technology company’s stock valued at $1,375,000 after buying an additional 186 shares during the last quarter. State of Michigan Retirement System grew its position in shares of 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 acquiring an additional 200 shares during the period. Bank of Hawaii increased its position in Blackbaud by 2.6% in the third quarter. Bank of Hawaii now owns 8,684 shares of the technology company’s stock worth $383,000 after buying an additional 217 shares during the last quarter. Bank of Montreal Can increased its holdings in Blackbaud by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 9,915 shares of the technology company’s stock worth $627,000 after acquiring an additional 236 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Blackbaud by 4.2% in the third quarter. Guggenheim Capital LLC now owns 6,064 shares of the technology company’s stock valued at $268,000 after purchasing an additional 243 shares during the period. Institutional investors and hedge funds own 97.39% of the company’s stock.
Insider Activity at Blackbaud
In other Blackbaud news, COO Kevin P. Gregoire sold 4,800 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $58.14, for a total value of $279,072.00. Following the completion of the sale, the chief operating officer now owns 106,310 shares in the company, valued at approximately $6,180,863.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, COO Kevin P. Gregoire sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $58.14, for a total value of $279,072.00. Following the completion of the transaction, the chief operating officer now directly owns 106,310 shares in the company, valued at approximately $6,180,863.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin Mcdearis sold 12,421 shares of Blackbaud stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.51, for a total transaction of $714,331.71. Following the sale, the executive vice president now owns 77,605 shares in the company, valued at approximately $4,463,063.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,177 shares of company stock worth $1,889,129. 1.70% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Blackbaud Stock Performance
BLKB opened at $53.42 on Tuesday. The company’s 50 day moving average is $59.87 and its 200 day moving average is $56.02. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -60.70, a PEG ratio of 2.77 and a beta of 1.15. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. Blackbaud, Inc. has a 12-month low of $43.54 and a 12-month high of $65.40.
Blackbaud (NASDAQ:BLKB – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $274.76 million for the quarter, compared to the consensus estimate of $278.24 million. Blackbaud had a negative net margin of 4.29% and a positive return on equity of 7.34%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts predict that Blackbaud, Inc. will post 1.92 EPS for the current year.
Blackbaud Company Profile
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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