Baird Financial Group Inc. cut its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,142 shares of the technology company’s stock after selling 5,085 shares during the period. Baird Financial Group Inc.’s holdings in Blackbaud were worth $28,644,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. QS Investors LLC boosted its stake in Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in Blackbaud during the 4th quarter valued at approximately $157,000. Verition Fund Management LLC acquired a new stake in Blackbaud during the 2nd quarter valued at approximately $228,000. Shelton Capital Management acquired a new stake in Blackbaud during the 3rd quarter valued at approximately $235,000. Finally, HighTower Advisors LLC acquired a new stake in Blackbaud during the 2nd quarter valued at approximately $241,000.
Shares of Blackbaud, Inc. (BLKB) opened at $100.12 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.81. Blackbaud, Inc. has a 12 month low of $71.48 and a 12 month high of $104.55. The company has a market cap of $4,811.37, a P/E ratio of 73.08, a price-to-earnings-growth ratio of 5.06 and a beta of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio is currently 35.04%.
In related news, CFO Anthony W. Boor sold 10,954 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.42, for a total value of $1,034,276.68. Following the completion of the transaction, the chief financial officer now directly owns 125,224 shares in the company, valued at approximately $11,823,650.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 6,089 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $100.00, for a total transaction of $608,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,692 shares of company stock valued at $6,562,555. Company insiders own 2.19% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Monday, October 30th. BidaskClub cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a research note on Thursday, October 26th. Dougherty & Co assumed coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They set a “neutral” rating for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Blackbaud has a consensus rating of “Hold” and a consensus target price of $97.50.
TRADEMARK VIOLATION NOTICE: This story was first posted by Stock Observer and is the property of of Stock Observer. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.thestockobserver.com/2018/02/21/blackbaud-inc-blkb-position-reduced-by-baird-financial-group-inc.html.
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
Want to see what other hedge funds are holding BLKB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackbaud, Inc. (NASDAQ:BLKB).
Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.