Phoenix Holdings Ltd. raised its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 19.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,793 shares of the technology company’s stock after purchasing an additional 5,940 shares during the period. Phoenix Holdings Ltd. owned 0.07% of Blackbaud worth $1,932,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Blackbaud in the second quarter valued at about $247,000. New York State Common Retirement Fund boosted its position in shares of Blackbaud by 0.4% in the second quarter. New York State Common Retirement Fund now owns 575,118 shares of the technology company’s stock valued at $32,828,000 after acquiring an additional 2,360 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of Blackbaud by 255.9% in the second quarter. CSat Investment Advisory L.P. now owns 573 shares of the technology company’s stock valued at $33,000 after acquiring an additional 412 shares during the period. Trillium Asset Management LLC boosted its position in shares of Blackbaud by 0.8% in the second quarter. Trillium Asset Management LLC now owns 238,232 shares of the technology company’s stock valued at $13,598,000 after acquiring an additional 1,890 shares during the period. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Blackbaud during the second quarter worth about $6,311,000.
Several equities research analysts recently weighed in on BLKB shares. Raymond James reaffirmed a “hold” rating on shares of Blackbaud in a research report on Thursday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of Blackbaud in a research note on Wednesday, May 6th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research note on Wednesday, August 5th. Finally, BidaskClub downgraded Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. Blackbaud presently has an average rating of “Hold” and an average target price of $71.67.
NASDAQ:BLKB traded up $0.38 on Thursday, reaching $65.99. 4,959 shares of the stock traded hands, compared to its average volume of 537,166. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 143.54, a price-to-earnings-growth ratio of 5.29 and a beta of 1.15. The company’s 50 day moving average is $59.57 and its 200-day moving average is $59.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.38. Blackbaud, Inc. has a 1-year low of $38.22 and a 1-year high of $97.35.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, July 29th. The technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.35. The business had revenue of $231.99 million during the quarter, compared to the consensus estimate of $217.74 million. Blackbaud had a net margin of 2.44% and a return on equity of 16.68%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, equities research analysts forecast that Blackbaud, Inc. will post 1.6 EPS for the current fiscal year.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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