GW&K Investment Management LLC bought a new stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 276 shares of the technology company’s stock, valued at approximately $25,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust bought a new stake in Blackbaud during the second quarter valued at approximately $25,000. Advisory Services Network LLC boosted its position in shares of Blackbaud by 70.6% in the second quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock worth $32,000 after purchasing an additional 156 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Blackbaud in the second quarter worth approximately $77,000. Private Capital Group LLC boosted its position in shares of Blackbaud by 13.3% in the second quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock worth $128,000 after purchasing an additional 147 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Blackbaud by 1,097.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock worth $123,000 after purchasing an additional 1,350 shares during the period.
A number of equities analysts have weighed in on BLKB shares. ValuEngine lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. DA Davidson upped their price target on shares of Blackbaud to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. BidaskClub lowered shares of Blackbaud from a “sell” rating to a “strong sell” rating in a research report on Friday, November 8th. Stephens set a $92.00 price target on shares of Blackbaud and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Zacks Investment Research lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 price target for the company. in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Blackbaud has a consensus rating of “Hold” and a consensus target price of $90.50.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, October 28th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. The firm had revenue of $221.10 million for the quarter, compared to the consensus estimate of $219.36 million. Blackbaud had a net margin of 2.25% and a return on equity of 18.97%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, research analysts forecast that Blackbaud, Inc. will post 1.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, November 26th. Blackbaud’s payout ratio is 25.67%.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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