Empire Life Investments Inc. grew its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,126 shares of the technology company’s stock after buying an additional 1,194 shares during the period. Empire Life Investments Inc.’s holdings in Blackbaud were worth $385,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Blackbaud by 1.7% in the third quarter. BlackRock Inc. now owns 5,565,430 shares of the technology company’s stock valued at $564,780,000 after buying an additional 94,330 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Blackbaud by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after purchasing an additional 99,637 shares during the last quarter. Vanguard Group Inc lifted its holdings in Blackbaud by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock worth $455,982,000 after purchasing an additional 99,637 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its holdings in Blackbaud by 0.8% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 4,283,089 shares of the technology company’s stock worth $434,648,000 after purchasing an additional 35,071 shares during the last quarter. Finally, Capital World Investors acquired a new stake in Blackbaud during the 3rd quarter worth approximately $142,326,000.
In other Blackbaud news, Director Timothy C. K. Chou sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $70,880.00. Following the transaction, the director now owns 21,264 shares in the company, valued at approximately $1,507,192.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.55% of the stock is owned by company insiders.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.10. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. The firm had revenue of $221.79 million for the quarter, compared to analyst estimates of $220.40 million. During the same quarter last year, the company earned $0.61 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Blackbaud, Inc. will post 1.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 26th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.
Several analysts recently weighed in on the company. Zacks Investment Research cut Blackbaud from a “buy” rating to a “hold” rating in a report on Monday, January 7th. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. DA Davidson dropped their price target on Blackbaud to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 3rd. Finally, Stephens assumed coverage on Blackbaud in a report on Wednesday, January 16th. They set an “overweight” rating and a $86.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $87.38.
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Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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