Trading Report: The Blackbaud Inc. (BLKB) Stake Increased by Tower Research Capital LLC TRC

The Blackbaud Inc. (BLKB) Stake Increased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its position in Blackbaud Inc. (NASDAQ:BLKB) by 2,651.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,816 shares of the company’s stock after buying an additional 1,750 shares during the period. Tower Research Capital LLC TRC’s holdings in Blackbaud were worth $124,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BLKB. Virginia Retirement Systems ET AL bought a new stake in Blackbaud during the second quarter valued at about $1,025,000. PineBridge Investments L.P. boosted its stake in Blackbaud by 4.9% in the second quarter. PineBridge Investments L.P. now owns 6,023 shares of the company’s stock valued at $409,000 after buying an additional 283 shares during the last quarter. Vanguard Group Inc. boosted its stake in Blackbaud by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,772,504 shares of the company’s stock valued at $256,154,000 after buying an additional 61,918 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Blackbaud by 0.5% in the second quarter. Principal Financial Group Inc. now owns 667,523 shares of the company’s stock valued at $45,325,000 after buying an additional 3,635 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in Blackbaud by 2.9% in the second quarter. Brown Advisory Inc. now owns 541,766 shares of the company’s stock valued at $36,786,000 after buying an additional 15,324 shares during the last quarter.

Blackbaud Inc. (NASDAQ:BLKB) opened at 64.31 on Wednesday. The firm’s 50-day moving average is $66.46 and its 200 day moving average is $65.32. Blackbaud Inc. has a 1-year low of $49.89 and a 1-year high of $71.76. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 110.88 and a beta of 1.16.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. The company earned $180.20 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts anticipate that Blackbaud Inc. will post $1.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 26th were given a $0.12 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 annualized dividend and a yield of 0.75%. Blackbaud’s dividend payout ratio is presently 81.36%.

Several equities research analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $77.00 price objective on shares of Blackbaud in a research report on Wednesday, August 3rd. Wunderlich lifted their price objective on shares of Blackbaud from $69.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of Blackbaud in a research report on Wednesday, June 29th. Finally, Evercore ISI assumed coverage on shares of Blackbaud in a research report on Monday, June 27th. They set a “hold” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $70.90.

In related news, Director Joyce Nelson sold 600 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $68.11, for a total value of $40,866.00. Following the completion of the transaction, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,038,949.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Gianoni sold 11,500 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.84, for a total value of $768,660.00. Following the completion of the transaction, the insider now directly owns 254,429 shares of the company’s stock, valued at $17,006,034.36. The disclosure for this sale can be found here. Insiders own 2.74% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.

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