Dynamic Technology Lab Private Ltd Takes $887,000 Position in Blackbaud, Inc. (BLKB)

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Dynamic Technology Lab Private Ltd acquired a new stake in Blackbaud, Inc. (NASDAQ:BLKB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,711 shares of the technology company’s stock, valued at approximately $887,000.

Several other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC purchased a new stake in Blackbaud during the first quarter worth $201,000. First Republic Investment Management Inc. purchased a new stake in Blackbaud during the fourth quarter worth $204,000. Zeke Capital Advisors LLC purchased a new stake in Blackbaud during the fourth quarter worth $213,000. Two Sigma Advisers LP purchased a new stake in Blackbaud during the fourth quarter worth $217,000. Finally, GWM Advisors LLC purchased a new stake in Blackbaud during the first quarter worth $233,000.

Blackbaud opened at $102.95 on Wednesday, according to MarketBeat Ratings. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.33. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 64.75, a P/E/G ratio of 4.51 and a beta of 0.63. Blackbaud, Inc. has a 52-week low of $81.64 and a 52-week high of $116.07.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, April 30th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.07. The business had revenue of $204.18 million for the quarter, compared to the consensus estimate of $204.29 million. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. research analysts anticipate that Blackbaud, Inc. will post 2.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 25th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, May 24th. Blackbaud’s payout ratio is 30.19%.

BLKB has been the topic of a number of recent analyst reports. BidaskClub raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. ValuEngine raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Stifel Nicolaus increased their price target on shares of Blackbaud from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, March 22nd. DA Davidson set a $110.00 price target on shares of Blackbaud and gave the stock a “hold” rating in a report on Thursday, March 15th. Finally, Zacks Investment Research downgraded shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Blackbaud currently has a consensus rating of “Hold” and a consensus target price of $103.14.

In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $106.00, for a total transaction of $212,000.00. Following the transaction, the senior vice president now directly owns 41,169 shares of the company’s stock, valued at $4,363,914. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 1,000 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $105,000.00. Following the transaction, the senior vice president now directly owns 41,169 shares in the company, valued at $4,322,745. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,669 shares of company stock worth $1,535,745. Insiders own 1.55% of the company’s stock.

Blackbaud Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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