D. E. Shaw & Co. Inc. purchased a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 49,737 shares of the technology company’s stock, valued at approximately $3,128,000. D. E. Shaw & Co. Inc. owned approximately 0.10% of Blackbaud at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of BLKB. Bank of America Corp DE grew its holdings in shares of Blackbaud by 27.5% during the 4th quarter. Bank of America Corp DE now owns 453,201 shares of the technology company’s stock worth $28,507,000 after purchasing an additional 97,784 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Blackbaud in the 4th quarter valued at $318,000. Two Sigma Advisers LP boosted its stake in Blackbaud by 662.5% in the 4th quarter. Two Sigma Advisers LP now owns 22,876 shares of the technology company’s stock valued at $1,439,000 after buying an additional 19,876 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Blackbaud in the 4th quarter valued at $5,434,000. Finally, Geode Capital Management LLC boosted its stake in Blackbaud by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 550,590 shares of the technology company’s stock valued at $34,631,000 after buying an additional 42,384 shares in the last quarter.
Shares of BLKB stock opened at $81.97 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $3.87 billion, a P/E ratio of 43.81, a P/E/G ratio of 7.52 and a beta of 1.31. Blackbaud, Inc. has a one year low of $58.23 and a one year high of $120.35.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 27th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, February 26th. Blackbaud’s dividend payout ratio is currently 25.67%.
Several analysts recently commented on the company. DA Davidson boosted their price target on Blackbaud to $75.00 and gave the company a “neutral” rating in a research note on Friday. BidaskClub raised Blackbaud from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, Stephens assumed coverage on Blackbaud in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $88.63.
In other Blackbaud news, SVP Jon W. Olson sold 10,000 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $77.07, for a total value of $770,700.00. Following the transaction, the senior vice president now owns 39,571 shares of the company’s stock, valued at $3,049,736.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Anthony W. Boor sold 9,606 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $77.82, for a total value of $747,538.92. Following the completion of the transaction, the chief financial officer now directly owns 92,016 shares in the company, valued at approximately $7,160,685.12. The disclosure for this sale can be found here. In the last three months, insiders sold 86,432 shares of company stock worth $6,661,485. Insiders own 1.55% of the company’s stock.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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