UBS Asset Management Americas Inc. reduced its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,262 shares of the technology company’s stock after selling 4,460 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Blackbaud were worth $2,198,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in Blackbaud during the 4th quarter worth $157,000. Shelton Capital Management acquired a new stake in Blackbaud during the 3rd quarter worth $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Blackbaud by 47.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock worth $264,000 after acquiring an additional 897 shares in the last quarter. Polen Capital Management LLC acquired a new stake in Blackbaud during the 4th quarter worth $367,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Blackbaud during the 3rd quarter worth $389,000.
Several equities research analysts recently commented on BLKB shares. Stifel Nicolaus lifted their price target on shares of Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Thursday, February 8th. BidaskClub downgraded shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. DA Davidson set a $110.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday. Finally, B. Riley raised their price objective on shares of Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $99.38.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Blackbaud had a net margin of 8.36% and a return on equity of 29.21%. The company had revenue of $216.98 million for the quarter, compared to the consensus estimate of $217.29 million. equities analysts anticipate that Blackbaud, Inc. will post 2.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, February 27th. Blackbaud’s payout ratio is currently 35.04%.
In other news, CFO Anthony W. Boor sold 10,954 shares of Blackbaud stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $94.42, for a total value of $1,034,276.68. Following the sale, the chief financial officer now owns 125,224 shares of the company’s stock, valued at $11,823,650.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George H. Ellis sold 600 shares of Blackbaud stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.73, for a total transaction of $61,038.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,612 shares of company stock worth $9,344,203. Insiders own 2.19% of the company’s stock.
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Blackbaud Company Profile
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).
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