Blackbaud, Inc. (BLKB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 62,013 shares of the technology company’s stock after selling 508 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Blackbaud worth $5,445,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Blackbaud by 787.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock valued at $355,393,000 after acquiring an additional 3,677,492 shares during the period. State Street Corp raised its stake in Blackbaud by 37.0% in the 2nd quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock valued at $136,159,000 after acquiring an additional 428,948 shares during the period. JPMorgan Chase & Co. raised its stake in Blackbaud by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock valued at $78,792,000 after acquiring an additional 51,747 shares during the period. Northern Trust Corp raised its stake in Blackbaud by 4.6% in the 2nd quarter. Northern Trust Corp now owns 800,433 shares of the technology company’s stock valued at $68,638,000 after acquiring an additional 35,231 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in Blackbaud by 21.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 761,011 shares of the technology company’s stock valued at $65,257,000 after acquiring an additional 136,470 shares during the period.

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A number of brokerages recently issued reports on BLKB. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Monday, October 30th. Dougherty & Co assumed coverage on Blackbaud in a research report on Tuesday, October 31st. They set a “neutral” rating on the stock. Citigroup Inc. set a $112.00 price target on Blackbaud and gave the company a “buy” rating in a research report on Friday, October 27th. Robert W. Baird upped their price target on Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Finally, B. Riley set a $82.00 price target on Blackbaud and gave the company a “hold” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $91.44.

In other Blackbaud news, SVP Jon W. Olson sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the sale, the senior vice president now owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George H. Ellis sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $101.47, for a total value of $152,205.00. Following the completion of the sale, the director now directly owns 7,511 shares of the company’s stock, valued at approximately $762,141.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,137 shares of company stock valued at $1,334,719. 2.19% of the stock is owned by insiders.

Blackbaud, Inc. (NASDAQ BLKB) opened at $102.57 on Tuesday. Blackbaud, Inc. has a twelve month low of $59.54 and a twelve month high of $103.43. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $4,910.00, a PE ratio of 60.74, a PEG ratio of 4.61 and a beta of 0.86.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The company had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Blackbaud’s revenue was up 6.8% on a year-over-year basis. research analysts forecast that Blackbaud, Inc. will post 1.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, November 27th. Blackbaud’s dividend payout ratio is currently 43.64%.

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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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