Southeast Asset Advisors Inc. Increases Holdings in Blackbaud, Inc. (BLKB)
Southeast Asset Advisors Inc. raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 138.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,120 shares of the technology company’s stock after purchasing an additional 6,450 shares during the quarter. Southeast Asset Advisors Inc.’s holdings in Blackbaud were worth $954,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after purchasing an additional 39 shares during the period. QS Investors LLC grew its holdings in Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after buying an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Blackbaud by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after buying an additional 163 shares in the last quarter. Investment Centers of America Inc. acquired a new position in Blackbaud in the 2nd quarter valued at $203,000. Finally, Cypress Wealth Advisors LLC acquired a new position in Blackbaud in the 1st quarter valued at $208,000.
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A number of equities research analysts have recently weighed in on BLKB shares. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a “hold” rating in a research note on Sunday. Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. Citigroup Inc. started coverage on shares of Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, B. Riley reiterated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a research note on Monday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $85.25.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded down 0.36% during trading on Wednesday, hitting $88.12. 58,913 shares of the stock traded hands. The company has a market cap of $4.08 billion, a P/E ratio of 100.14 and a beta of 0.84. The stock has a 50-day moving average of $84.58 and a 200 day moving average of $83.66. Blackbaud, Inc. has a 1-year low of $55.88 and a 1-year high of $93.81.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. The company had revenue of $192.50 million for the quarter, compared to analysts’ expectations of $193.66 million. During the same period last year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Blackbaud, Inc. will post $2.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Thursday, August 24th. Blackbaud’s payout ratio is 47.06%.
In related news, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total transaction of $93,681.90. Following the completion of the transaction, the director now owns 22,272 shares of the company’s stock, valued at $1,888,220.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George H. Ellis sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $85.40, for a total transaction of $256,200.00. Following the transaction, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,752 shares of company stock worth $1,771,517. 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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