Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys New Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Blackbaud, Inc. (NASDAQ:BLKB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 927 shares of the technology company’s stock, valued at approximately $77,000.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Blackbaud by 230.0% in the 1st quarter. FMR LLC now owns 538,047 shares of the technology company’s stock valued at $42,898,000 after buying an additional 374,999 shares during the last quarter. First Trust Advisors LP increased its position in shares of Blackbaud by 3,870.3% in the second quarter. First Trust Advisors LP now owns 242,983 shares of the technology company’s stock worth $20,289,000 after purchasing an additional 236,863 shares during the period. Janus Henderson Group PLC increased its position in shares of Blackbaud by 2.0% in the second quarter. Janus Henderson Group PLC now owns 4,878,906 shares of the technology company’s stock worth $407,395,000 after purchasing an additional 96,323 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Blackbaud by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 587,637 shares of the technology company’s stock worth $36,963,000 after purchasing an additional 93,621 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Blackbaud by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 550,590 shares of the technology company’s stock worth $34,631,000 after purchasing an additional 42,384 shares during the period.

Blackbaud stock opened at $90.89 on Friday. Blackbaud, Inc. has a 12-month low of $58.23 and a 12-month high of $105.64. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.75. The business’s 50-day moving average price is $89.77 and its two-hundred day moving average price is $82.02. The stock has a market cap of $4.50 billion, a PE ratio of 58.67, a P/E/G ratio of 8.99 and a beta of 1.21.



Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, July 30th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.37. Blackbaud had a return on equity of 20.51% and a net margin of 3.04%. The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $223.53 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts expect that Blackbaud, Inc. will post 1.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Tuesday, August 27th. Blackbaud’s payout ratio is 25.67%.

A number of brokerages recently commented on BLKB. BidaskClub cut Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. DA Davidson lifted their target price on Blackbaud to $89.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Bank of America reiterated an “underperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Blackbaud in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 target price on the stock. in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Blackbaud has a consensus rating of “Hold” and an average target price of $91.71.

In other news, Director George H. Ellis sold 2,000 shares of Blackbaud stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $88.20, for a total transaction of $176,400.00. Following the sale, the director now directly owns 4,404 shares of the company’s stock, valued at $388,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.62, for a total value of $88,620.00. Following the sale, the director now directly owns 12,051 shares in the company, valued at $1,067,959.62. The disclosure for this sale can be found here. Insiders have sold 11,858 shares of company stock worth $973,660 over the last three months. Insiders own 1.56% of the company’s stock.

Blackbaud Profile

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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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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