Rhumbline Advisers Boosts Position in Blackbaud, Inc. (BLKB)

Rhumbline Advisers boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 16.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,906 shares of the technology company’s stock after acquiring an additional 15,831 shares during the period. Rhumbline Advisers owned 0.23% of Blackbaud worth $9,913,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. World Asset Management Inc raised its position in shares of Blackbaud by 0.8% during the second quarter. World Asset Management Inc now owns 3,043 shares of the technology company’s stock worth $261,000 after purchasing an additional 24 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after purchasing an additional 39 shares during the period. Janney Montgomery Scott LLC grew its stake in Blackbaud by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,234 shares of the technology company’s stock valued at $363,000 after purchasing an additional 54 shares during the period. 1st Global Advisors Inc. grew its stake in Blackbaud by 0.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock valued at $822,000 after purchasing an additional 57 shares during the period. Finally, Advisor Group Inc. grew its stake in Blackbaud by 2.1% in the 2nd quarter. Advisor Group Inc. now owns 3,108 shares of the technology company’s stock valued at $265,000 after purchasing an additional 65 shares during the period.

A number of research analysts have issued reports on the company. Dougherty & Co assumed coverage on Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Monday, October 30th. Citigroup set a $112.00 target price on Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. Robert W. Baird raised their target price on Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Finally, B. Riley set a $82.00 target price on Blackbaud and gave the stock a “hold” rating in a research note on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $94.75.

Blackbaud, Inc. (NASDAQ:BLKB) opened at $95.80 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud, Inc. has a 1-year low of $61.98 and a 1-year high of $104.55. The firm has a market capitalization of $4,573.80, a PE ratio of 56.61, a P/E/G ratio of 5.84 and a beta of 0.82.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $195.51 million for the quarter, compared to analyst estimates of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. Blackbaud’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. research analysts anticipate that Blackbaud, Inc. will post 1.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a $0.12 dividend. The ex-dividend date is Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. Blackbaud’s dividend payout ratio is currently 44.04%.

In other news, EVP Kevin W. Mooney sold 4,466 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total value of $451,066.00. Following the completion of the transaction, the executive vice president now owns 71,655 shares in the company, valued at $7,237,155. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Boruff sold 800 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at approximately $5,287,104.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,655 shares of company stock worth $972,923. Corporate insiders own 2.19% of the company’s stock.

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About Blackbaud

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).

Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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