Trade Report: Today, BlackRock Advisors LLC Acquires 50,080 Shares of Blackbaud Inc. (BLKB)

Today, BlackRock Advisors LLC Acquires 50,080 Shares of Blackbaud Inc. (BLKB)

BlackRock Advisors LLC raised its position in shares of Blackbaud Inc. (NASDAQ:BLKB) by 233.2% during the second quarter, Holdings Channel reports. The firm owned 71,559 shares of the company’s stock after buying an additional 50,080 shares during the period. BlackRock Advisors LLC owned 0.16% of Blackbaud worth $4,859,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in Blackbaud by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,696 shares of the company’s stock valued at $115,000 after buying an additional 59 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Blackbaud by 2,651.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,816 shares of the company’s stock valued at $124,000 after buying an additional 1,750 shares during the last quarter. Invictus RG raised its stake in Blackbaud by 264.9% in the first quarter. Invictus RG now owns 1,912 shares of the company’s stock valued at $120,000 after buying an additional 1,388 shares during the last quarter. BlackRock Inc. raised its stake in Blackbaud by 49.0% in the first quarter. BlackRock Inc. now owns 3,197 shares of the company’s stock valued at $201,000 after buying an additional 1,052 shares during the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new stake in Blackbaud during the first quarter valued at about $210,000.

Shares of Blackbaud Inc. (NASDAQ:BLKB) opened at 63.63 on Tuesday. The stock has a 50 day moving average of $66.00 and a 200-day moving average of $65.37. Blackbaud Inc. has a one year low of $49.89 and a one year high of $71.76. The stock has a market capitalization of $2.93 billion, a P/E ratio of 109.71 and a beta of 1.16.

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

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. William Blair assumed coverage on shares of Blackbaud in a research report on Monday, July 11th. They set an “outperform” rating for the company. Off Wall Street assumed coverage on shares of Blackbaud in a research report on Wednesday, July 27th. They set a “sell” rating and a $50.00 price target for the company. Stifel Nicolaus increased their price target on shares of Blackbaud from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. 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 target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Blackbaud currently has a consensus rating of “Hold” and an average target price of $70.90.

In other news, Director Joyce Nelson sold 600 shares of Blackbaud stock in a transaction dated 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 owns 15,254 shares of the company’s stock, valued at approximately $1,038,949.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jon W. Olson sold 4,500 shares of Blackbaud stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.88, for a total value of $300,960.00. Following the completion of the transaction, the senior vice president now directly owns 33,404 shares of the company’s stock, valued at approximately $2,234,059.52. The disclosure for this sale can be found here. 2.74% of the stock is owned by insiders.

About Blackbaud

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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