JPMorgan Chase & Co. boosted its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 918,865 shares of the technology company’s stock after acquiring an additional 51,747 shares during the quarter. JPMorgan Chase & Co. owned 1.97% of Blackbaud worth $78,792,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in Blackbaud by 18.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock valued at $115,000 after acquiring an additional 230 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Blackbaud by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after acquiring an additional 163 shares during the last quarter. Cypress Wealth Advisors LLC purchased a new stake in Blackbaud during the first quarter valued at $208,000. Piedmont Investment Advisors LLC purchased a new stake in Blackbaud during the first quarter valued at $218,000. Finally, World Asset Management Inc purchased a new stake in Blackbaud during the first quarter valued at $231,000.
Shares of Blackbaud, Inc. (NASDAQ BLKB) opened at 84.94 on Monday. The stock has a market cap of $3.96 billion, a PE ratio of 81.75 and a beta of 0.82. Blackbaud, Inc. has a 12 month low of $55.88 and a 12 month high of $93.81. The firm has a 50-day moving average price of $86.37 and a 200-day moving average price of $82.18.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. The company had revenue of $192.50 million for the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. Equities analysts forecast that Blackbaud, Inc. will post $2.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Blackbaud’s payout ratio is currently 47.06%.
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A number of analysts recently commented on the company. B. Riley reiterated a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a research report on Monday, August 28th. Benchmark Co. reduced their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, June 27th. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 price target of $81.71.
In other Blackbaud news, SVP Jon W. Olson sold 5,282 shares of Blackbaud stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the completion of the transaction, the senior vice president now owns 50,756 shares in the company, valued at approximately $4,275,685.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin W. Mooney sold 5,027 shares of Blackbaud stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $83.52, for a total value of $419,855.04. Following the transaction, the executive vice president now owns 78,611 shares of the company’s stock, valued at approximately $6,565,590.72. The disclosure for this sale can be found here. Insiders have sold a total of 20,752 shares of company stock valued at $1,771,517 in the last quarter. Company insiders own 2.74% of the company’s stock.
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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