Norges Bank purchased a new position in Blackbaud, Inc. (NASDAQ:BLKB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 743,868 shares of the technology company’s stock, valued at approximately $46,789,000. Norges Bank owned approximately 1.53% of Blackbaud as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in BLKB. First Hawaiian Bank raised its stake in shares of Blackbaud by 75.5% in the fourth quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock worth $27,000 after purchasing an additional 188 shares during the last quarter. FMR LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $129,000. Jane Street Group LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $203,000. Virtu Financial LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $288,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Blackbaud in the third quarter worth approximately $306,000.
In other Blackbaud news, CFO Anthony W. Boor sold 9,606 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $77.82, for a total value of $747,538.92. Following the completion of the sale, the chief financial officer now directly owns 92,016 shares of the company’s stock, valued at $7,160,685.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon W. Olson sold 10,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $77.07, for a total value of $770,700.00. Following the completion of the sale, the senior vice president now directly owns 39,571 shares of the company’s stock, valued at $3,049,736.97. The disclosure for this sale can be found here. Insiders sold 86,432 shares of company stock valued at $6,661,485 over the last three months. Company insiders own 1.55% of the company’s stock.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, April 30th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. Blackbaud had a return on equity of 21.53% and a net margin of 3.02%. The business had revenue of $215.83 million during the quarter, compared to the consensus estimate of $212.32 million. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts predict that Blackbaud, Inc. will post 1.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, May 24th. Blackbaud’s dividend payout ratio is currently 25.67%.
BLKB has been the subject of a number of research analyst reports. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Stephens initiated coverage on Blackbaud in a research report on Wednesday, January 16th. They set an “overweight” rating and a $86.00 price target for the company. Finally, DA Davidson increased their price target on Blackbaud to $75.00 and gave the company a “neutral” rating in a research report on Friday, March 29th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Blackbaud presently has an average rating of “Hold” and a consensus target price of $88.14.
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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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