Moody Aldrich Partners LLC raised its stake in Blackbaud Inc. (NASDAQ:BLKB) by 168.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,990 shares of the company’s stock after buying an additional 14,420 shares during the period. Blackbaud accounts for about 1.3% of Moody Aldrich Partners LLC’s holdings, making the stock its 27th largest position. Moody Aldrich Partners LLC’s holdings in Blackbaud were worth $1,561,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in Blackbaud by 5.2% in the first quarter. State Street Corp now owns 1,025,799 shares of the company’s stock valued at $64,510,000 after buying an additional 50,282 shares during the last quarter. RGM Capital LLC increased its stake in Blackbaud by 1.3% in the first quarter. RGM Capital LLC now owns 869,561 shares of the company’s stock valued at $54,687,000 after buying an additional 11,200 shares during the last quarter. GW&K Investment Management LLC increased its stake in Blackbaud by 2.4% in the second quarter. GW&K Investment Management LLC now owns 821,492 shares of the company’s stock valued at $55,779,000 after buying an additional 19,406 shares during the last quarter. Norges Bank acquired a new stake in Blackbaud during the fourth quarter valued at approximately $37,604,000. Finally, Palisade Capital Management LLC NJ increased its stake in Blackbaud by 0.6% in the first quarter. Palisade Capital Management LLC NJ now owns 379,150 shares of the company’s stock valued at $23,845,000 after buying an additional 2,323 shares during the last quarter.
Shares of Blackbaud Inc. (NASDAQ:BLKB) traded up 0.59% on Thursday, hitting $66.12. The company had a trading volume of 329,965 shares. The stock’s 50-day moving average is $67.12 and its 200 day moving average is $64.69. Blackbaud Inc. has a 52 week low of $49.89 and a 52 week high of $71.76. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 114.00 and a beta of 1.20.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Blackbaud had a net margin of 3.97% and a return on equity of 27.31%. The business earned $180.20 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts expect that Blackbaud Inc. will post $1.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 26th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Wednesday, August 24th. Blackbaud’s dividend payout ratio (DPR) is presently 81.36%.
BLKB has been the subject of several research analyst reports. Wunderlich lifted their price objective on Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Robert W. Baird restated an “outperform” rating and set a $70.00 price target on shares of Blackbaud in a research note on Wednesday, June 29th. Evercore Partners Inc. initiated coverage on Blackbaud in a research note on Monday, June 27th. They set a “hold” rating for the company. Finally, B. Riley restated a “buy” rating and set a $77.00 price target on shares of Blackbaud in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Blackbaud currently has an average rating of “Hold” and a consensus target price of $70.90.
In other Blackbaud news, insider Michael P. Gianoni sold 11,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.84, for a total value of $768,660.00. Following the completion of the sale, the insider now directly owns 254,429 shares in the company, valued at $17,006,034.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John J. Mistretta sold 2,255 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $70.00, for a total value of $157,850.00. Following the completion of the sale, the executive vice president now owns 86,117 shares of the company’s stock, valued at $6,028,190. The disclosure for this sale can be found here. 2.74% of the stock is owned by company insiders.
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud Inc. (NASDAQ:BLKB).
Receive News & Ratings for Blackbaud Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud Inc. and related companies with MarketBeat.com's FREE daily email newsletter.