Virginia Retirement Systems ET AL raised its holdings in Blackbaud (NASDAQ:BLKB) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,100 shares of the technology company’s stock after buying an additional 2,600 shares during the period. Virginia Retirement Systems ET AL’s holdings in Blackbaud were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Koch Industries Inc. lifted its stake in shares of Blackbaud by 23.5% in the fourth quarter. Koch Industries Inc. now owns 8,252 shares of the technology company’s stock valued at $780,000 after buying an additional 1,568 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of Blackbaud by 11.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock valued at $69,001,000 after buying an additional 72,430 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Blackbaud by 317.3% in the fourth quarter. Teacher Retirement System of Texas now owns 16,521 shares of the technology company’s stock valued at $1,561,000 after buying an additional 12,562 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Blackbaud by 11.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 240,146 shares of the technology company’s stock valued at $22,692,000 after buying an additional 24,894 shares in the last quarter. Finally, State of Tennessee Treasury Department bought a new position in shares of Blackbaud in the fourth quarter valued at $6,614,000.
A number of research analysts have weighed in on the stock. Evercore ISI lowered shares of Blackbaud from an “in” rating to an “underperform” rating in a research note on Monday, March 12th. DA Davidson set a $110.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a research note on Thursday, March 15th. Stifel Nicolaus raised their price objective on shares of Blackbaud from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 22nd. Zacks Investment Research lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Finally, BidaskClub raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $103.14.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, April 30th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The company had revenue of $204.18 million for the quarter, compared to analyst estimates of $204.29 million. During the same period last year, the firm earned $0.50 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. equities research analysts predict that Blackbaud will post 2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, May 24th. Blackbaud’s payout ratio is currently 30.19%.
In other Blackbaud news, insider Michael P. Gianoni sold 28,839 shares of Blackbaud stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $96.84, for a total value of $2,792,768.76. Following the sale, the insider now owns 332,419 shares of the company’s stock, valued at $32,191,455.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 1,500 shares of Blackbaud stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $103.22, for a total transaction of $154,830.00. The disclosure for this sale can be found here. Insiders have sold 83,658 shares of company stock worth $8,309,927 over the last three months. 1.55% of the stock is owned by insiders.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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