Northwestern Mutual Wealth Management Co. boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 18.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,498 shares of the technology company’s stock after buying an additional 230 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Blackbaud were worth $115,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its stake in Blackbaud by 4.0% in the third quarter. Great West Life Assurance Co. Can now owns 63,540 shares of the technology company’s stock valued at $4,214,000 after buying an additional 2,445 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in Blackbaud by 13.8% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,375 shares of the technology company’s stock valued at $357,000 after buying an additional 650 shares during the period. BlackRock Inc. boosted its stake in Blackbaud by 10.1% in the third quarter. BlackRock Inc. now owns 4,614 shares of the technology company’s stock valued at $306,000 after buying an additional 424 shares during the period. BlackRock Group LTD boosted its stake in Blackbaud by 6.0% in the third quarter. BlackRock Group LTD now owns 69,808 shares of the technology company’s stock valued at $4,631,000 after buying an additional 3,936 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Blackbaud during the third quarter valued at $384,000.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded up 1.18% during mid-day trading on Friday, hitting $80.34. 316,368 shares of the stock were exchanged. Blackbaud, Inc. has a 12 month low of $55.88 and a 12 month high of $81.68. The stock’s 50 day moving average is $78.52 and its 200 day moving average is $70.56. The firm has a market cap of $3.74 billion, a P/E ratio of 81.23 and a beta of 0.93.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by $0.01. Blackbaud had a return on equity of 30.77% and a net margin of 5.34%. The firm had revenue of $183.62 million for the quarter, compared to the consensus estimate of $182.95 million. During the same period in the previous year, the company posted $0.42 EPS. Blackbaud’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that Blackbaud, Inc. will post $2.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, May 24th. Blackbaud’s payout ratio is 57.83%.
Several analysts recently weighed in on BLKB shares. Raymond James Financial, Inc. started coverage on shares of Blackbaud in a report on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 price target on the stock. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and set a $75.00 price target on the stock. in a report on Tuesday, February 28th. Stifel Nicolaus lifted their price target on shares of Blackbaud from $73.00 to $79.00 and gave the company a “buy” rating in a report on Friday, February 10th. Finally, Wunderlich cut shares of Blackbaud from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a report on Thursday, February 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $75.44.
In related news, EVP Kevin W. Mooney sold 5,094 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $79.11, for a total transaction of $402,986.34. Following the sale, the executive vice president now owns 85,976 shares of the company’s stock, valued at $6,801,561.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John J. Mistretta sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $77.00, for a total value of $192,500.00. Following the sale, the executive vice president now directly owns 80,278 shares in the company, valued at approximately $6,181,406. The disclosure for this sale can be found here. Insiders have sold a total of 12,594 shares of company stock worth $980,486 in the last three months. Corporate insiders own 2.74% 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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