Empire Life Investments Inc. decreased its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,649 shares of the technology company’s stock after selling 948 shares during the quarter. Empire Life Investments Inc.’s holdings in Blackbaud were worth $439,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of BLKB. Contravisory Investment Management Inc. bought a new stake in shares of Blackbaud in the fourth quarter worth $157,000. First Republic Investment Management Inc. bought a new stake in shares of Blackbaud in the fourth quarter worth $204,000. Two Sigma Advisers LP bought a new stake in shares of Blackbaud in the fourth quarter worth $217,000. Shelton Capital Management bought a new stake in shares of Blackbaud in the third quarter worth $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Blackbaud by 47.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock worth $264,000 after purchasing an additional 897 shares during the last quarter.
Blackbaud, Inc. (NASDAQ BLKB) opened at $109.58 on Tuesday. Blackbaud, Inc. has a fifty-two week low of $74.46 and a fifty-two week high of $116.07. The stock has a market cap of $5,348.68, a price-to-earnings ratio of 67.02, a P/E/G ratio of 5.63 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. Blackbaud’s dividend payout ratio is currently 35.04%.
Several analysts recently weighed in on BLKB shares. BidaskClub cut shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. B. Riley boosted their target price on shares of Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. DA Davidson started coverage on shares of Blackbaud in a report on Friday, February 2nd. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $97.50.
In other news, CFO Anthony W. Boor sold 10,954 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the transaction, the chief financial officer now owns 125,224 shares in the company, valued at $11,823,650.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George H. Ellis sold 600 shares of the company’s 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. Insiders have sold 94,612 shares of company stock worth $9,344,203 in the last quarter. Company insiders own 2.19% 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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