Raymond James & Associates lowered its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,976 shares of the technology company’s stock after selling 4,196 shares during the period. Raymond James & Associates’ holdings in Blackbaud were worth $2,077,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of BLKB. Contravisory Investment Management Inc. purchased a new position in Blackbaud in the fourth quarter valued at about $157,000. First Republic Investment Management Inc. purchased a new position in Blackbaud in the fourth quarter valued at about $204,000. Two Sigma Advisers LP purchased a new position in Blackbaud in the fourth quarter valued at about $217,000. Shelton Capital Management purchased a new position in Blackbaud in the third quarter valued at about $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Blackbaud by 47.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock valued at $264,000 after purchasing an additional 897 shares during the last quarter.
A number of research analysts have commented on the company. Evercore ISI downgraded Blackbaud from an “in” rating to an “underperform” rating in a report on Monday, March 12th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Thursday, February 8th. B. Riley increased their target price on Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Stifel Nicolaus increased their target price on Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, DA Davidson assumed coverage on Blackbaud in a report on Friday, February 2nd. They set a “neutral” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Blackbaud currently has an average rating of “Hold” and a consensus price target of $101.25.
NASDAQ:BLKB opened at $107.08 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.81 and a current ratio of 0.81. Blackbaud, Inc. has a 52 week low of $75.80 and a 52 week high of $116.07. The company has a market cap of $5,091.46, a price-to-earnings ratio of 63.79, a PEG ratio of 5.36 and a beta of 0.65.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $216.98 million for the quarter, compared to the consensus estimate of $217.29 million. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. research analysts forecast that Blackbaud, Inc. will post 2.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is 30.19%.
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Blackbaud Company Profile
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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