Blackbaud, Inc. (BLKB) Shares Bought by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC raised its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,070 shares of the technology company’s stock after buying an additional 48 shares during the period. TIAA CREF Investment Management LLC owned 0.33% of Blackbaud worth $13,383,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Teachers Advisors LLC raised its position in Blackbaud by 5.6% in the second quarter. Teachers Advisors LLC now owns 99,359 shares of the technology company’s stock valued at $8,520,000 after purchasing an additional 5,267 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Blackbaud by 74.8% during the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the technology company’s stock valued at $300,000 after purchasing an additional 1,496 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Blackbaud by 2.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after purchasing an additional 39 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Blackbaud by 32.3% during the second quarter. Martingale Asset Management L P now owns 11,903 shares of the technology company’s stock valued at $1,021,000 after purchasing an additional 2,903 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Blackbaud by 1.8% during the second quarter. Wells Fargo & Company MN now owns 61,667 shares of the technology company’s stock valued at $5,288,000 after purchasing an additional 1,068 shares in the last quarter.
Shares of Blackbaud, Inc. (BLKB) opened at 87.51 on Tuesday. The stock has a 50 day moving average price of $84.50 and a 200 day moving average price of $83.57. The firm has a market cap of $4.08 billion, a PE ratio of 84.23 and a beta of 0.84. Blackbaud, Inc. has a 52 week low of $55.88 and a 52 week high of $93.81.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). The business had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a return on equity of 30.88% and a net margin of 6.46%. Blackbaud’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts expect that Blackbaud, Inc. will post $2.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 28th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, August 24th. This represents a $0.48 annualized dividend and a yield of 0.55%. Blackbaud’s payout ratio is 47.06%.
In other news, Director Sarah E. Nash sold 1,105 shares of Blackbaud stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $84.78, for a total value of $93,681.90. Following the transaction, the director now owns 22,272 shares in the company, valued at $1,888,220.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kevin W. Mooney sold 2,338 shares of Blackbaud stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $88.00, for a total value of $205,744.00. Following the completion of the transaction, the executive vice president now owns 83,638 shares in the company, valued at approximately $7,360,144. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,752 shares of company stock valued at $1,771,517. Company insiders own 2.19% of the company’s stock.
Several research firms have recently issued reports on BLKB. Benchmark Co. lowered their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, June 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a report on Friday, July 21st. Citigroup Inc. began coverage on shares of Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Robert W. Baird set a $85.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a report on Sunday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $85.25.
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).
Receive News & Stock Ratings for Blackbaud Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud Inc. and related stocks with our FREE daily email newsletter.