American International Group Inc. grew its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 124,754 shares of the technology company’s stock after buying an additional 361 shares during the period. American International Group Inc. owned approximately 0.25% of Blackbaud worth $9,930,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC acquired a new stake in Blackbaud during the third quarter worth $25,000. World Asset Management Inc bought a new position in shares of Blackbaud during the 3rd quarter worth about $207,000. NEXT Financial Group Inc bought a new position in shares of Blackbaud during the 4th quarter worth about $226,000. SG Americas Securities LLC boosted its position in shares of Blackbaud by 55.9% during the 4th quarter. SG Americas Securities LLC now owns 3,049 shares of the technology company’s stock valued at $243,000 after acquiring an additional 1,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Blackbaud by 8.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,106 shares of the technology company’s stock valued at $247,000 after acquiring an additional 243 shares in the last quarter.
Several research analysts recently issued reports on the stock. BidaskClub lowered shares of Blackbaud from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 1st. Needham & Company LLC restated a “hold” rating on shares of Blackbaud in a research note on Tuesday. Finally, Stephens set a $92.00 price objective on Blackbaud and gave the company a “hold” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.50.
Shares of NASDAQ:BLKB opened at $81.34 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.66 and a quick ratio of 0.66. The business’s fifty day moving average price is $79.69 and its two-hundred day moving average price is $85.14. Blackbaud, Inc. has a fifty-two week low of $72.32 and a fifty-two week high of $97.35. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 325.36 and a beta of 1.17.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. Blackbaud had a return on equity of 16.37% and a net margin of 1.32%. The company had revenue of $238.10 million during the quarter, compared to analysts’ expectations of $232.17 million. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that Blackbaud, Inc. will post 1.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, February 27th. Blackbaud’s dividend payout ratio is currently 37.80%.
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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