Garelick Capital Partners Lp Lowers stake in Blackbaud (BLKB)

Blackbaud (BLKB) : Garelick Capital Partners Lp reduced its stake in Blackbaud by 20.99% during the most recent quarter end. The investment management company now holds a total of 95,145 shares of Blackbaud which is valued at $5.7 Million after selling 25,275 shares in Blackbaud , the firm said in a disclosure report filed with the SEC on May 11, 2016.Blackbaud makes up approximately 4.60% of Garelick Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Martingale Asset Management L P sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 3,100 shares of BLKB which is valued $185,008.Municipal Employees’ Retirement System Of Michigan boosted its stake in BLKB in the latest quarter, The investment management firm added 540 additional shares and now holds a total of 10,020 shares of Blackbaud which is valued at $597,292. Blackbaud makes up approx 0.04% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Diversified Trust Co reduced its stake in BLKB by selling 305 shares or 3.88% in the most recent quarter. The Hedge Fund company now holds 7,560 shares of BLKB which is valued at $450,652. Blackbaud makes up approx 0.06% of Diversified Trust Co’s portfolio. Quantbot Technologies Lp sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 786 shares of BLKB which is valued $48,551.

Blackbaud opened for trading at $59.92 and hit $60.91 on the upside on Monday, eventually ending the session at $60.44, with a gain of 1.27% or 0.76 points. The heightened volatility saw the trading volume jump to 1,39,185 shares. Company has a market cap of $2,871 M.

On the company’s financial health, Blackbaud reported $0.42 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $171.00 million for the quarter, compared to analysts expectations of $171.75 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Blackbaud. Blackbaud was Initiated by Pacific Crest to “Sector Weight” on Mar 22, 2016. Wunderlich Initiated Blackbaud on Feb 18, 2016 to “Buy”, Price Target of the shares are set at $69.

Blackbaud Inc. is a global provider of software and services designed for the non-profit charitable giving and education communities. The Company operates in four segments: Enterprise Customer Business Unit (ECBU) General Markets Business Unit (GMBU) International Business Unit (IBU) and Target Analytics. The ECBU is focused on marketing sales delivery and support to large and/or strategic prospects and customers in North America. The GMBU is focused on marketing sales delivery and support to all emerging and mid-sized prospects and customers in North America. The IBU is focused on marketing sales delivery and support to all prospects and customers outside of North America. Target Analytics is focused on marketing sales and delivery of analytic services to all prospects and customers across the globe. It operates in four geographic regions: United States Canada Europe and Australia.

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