Mason Street Advisors LLC increased its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 1.5% during the first quarter, HoldingsChannel.com reports. The fund owned 25,828 shares of the technology company’s stock after buying an additional 387 shares during the period. Mason Street Advisors LLC’s holdings in Blackbaud were worth $2,059,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Trillium Asset Management LLC increased its holdings in shares of Blackbaud by 8.2% during the first quarter. Trillium Asset Management LLC now owns 167,026 shares of the technology company’s stock valued at $13,317,000 after acquiring an additional 12,673 shares in the last quarter. Wrapmanager Inc. bought a new stake in shares of Blackbaud during the first quarter valued at approximately $331,000. OLD National Bancorp IN bought a new stake in shares of Blackbaud during the first quarter valued at approximately $263,000. Stephens Inc. AR bought a new stake in shares of Blackbaud during the first quarter valued at approximately $240,000. Finally, Texas Permanent School Fund increased its holdings in shares of Blackbaud by 3.8% during the first quarter. Texas Permanent School Fund now owns 32,978 shares of the technology company’s stock valued at $2,629,000 after acquiring an additional 1,195 shares in the last quarter.
Shares of NASDAQ:BLKB opened at $77.54 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of 41.47, a P/E/G ratio of 7.49 and a beta of 1.27. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.69. Blackbaud, Inc. has a 12-month low of $58.23 and a 12-month high of $120.35.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $215.83 million for the quarter, compared to analysts’ expectations of $212.32 million. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. Blackbaud’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, research analysts predict that Blackbaud, Inc. will post 1.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. Blackbaud’s payout ratio is 25.67%.
In related news, CFO Anthony W. Boor sold 9,606 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $77.82, for a total transaction of $747,538.92. Following the transaction, the chief financial officer now owns 92,016 shares of the company’s stock, valued at $7,160,685.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.55% of the stock is owned by insiders.
Several equities research analysts have recently commented on BLKB shares. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. BidaskClub raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. DA Davidson lifted their target price on Blackbaud to $75.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. Finally, Stephens cut Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 target price on the stock. in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $88.14.
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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