Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 335.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,313 shares of the technology company’s stock after acquiring an additional 13,337 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Blackbaud were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Blackbaud by 2.7% during the first quarter. JPMorgan Chase & Co. now owns 143,241 shares of the technology company’s stock worth $8,576,000 after buying an additional 3,713 shares during the last quarter. American Century Companies Inc. raised its position in shares of Blackbaud by 11.9% in the 1st quarter. American Century Companies Inc. now owns 6,669 shares of the technology company’s stock worth $399,000 after acquiring an additional 710 shares in the last quarter. US Bancorp DE boosted its position in shares of Blackbaud by 22.4% during the 1st quarter. US Bancorp DE now owns 5,120 shares of the technology company’s stock valued at $306,000 after purchasing an additional 936 shares in the last quarter. Bank of Montreal Can grew its stake in Blackbaud by 7.5% during the first quarter. Bank of Montreal Can now owns 9,679 shares of the technology company’s stock worth $600,000 after purchasing an additional 672 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Blackbaud by 47.7% in the first quarter. MetLife Investment Management LLC now owns 53,394 shares of the technology company’s stock worth $3,197,000 after purchasing an additional 17,240 shares in the last quarter. 97.39% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Blackbaud news, EVP Kevin Mcdearis sold 12,421 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $57.51, for a total value of $714,331.71. Following the transaction, the executive vice president now owns 77,605 shares of the company’s stock, valued at $4,463,063.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Kevin P. Gregoire sold 1,023 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $58.78, for a total transaction of $60,131.94. Following the completion of the sale, the chief operating officer now owns 97,358 shares in the company, valued at approximately $5,722,703.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin Mcdearis sold 12,421 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.51, for a total value of $714,331.71. Following the completion of the transaction, the executive vice president now owns 77,605 shares in the company, valued at approximately $4,463,063.55. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Blackbaud Stock Up 1.2 %
Blackbaud stock opened at $58.61 on Tuesday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -66.60, a price-to-earnings-growth ratio of 3.27 and a beta of 1.10. The firm’s fifty day moving average price is $60.32 and its two-hundred day moving average price is $56.03. Blackbaud, Inc. has a 1-year low of $43.54 and a 1-year high of $65.40. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 1.13.
Blackbaud (NASDAQ:BLKB – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $274.76 million during the quarter, compared to the consensus estimate of $278.24 million. Blackbaud had a positive return on equity of 7.34% and a negative net margin of 4.29%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities research analysts predict that Blackbaud, Inc. will post 1.72 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently commented on BLKB shares. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, February 15th. TheStreet raised shares of Blackbaud from a “d+” rating to a “c-” rating in a research note on Friday, December 2nd. Finally, Robert W. Baird cut their price objective on shares of Blackbaud from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 15th.
About Blackbaud
Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.
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