Smith Howard Wealth Management buys $4.3 Million stake in Blackbaud (BLKB)

Blackbaud (BLKB) : Smith Howard Wealth Management scooped up 60,839 additional shares in Blackbaud during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 71,351 shares of Blackbaud which is valued at $4.3 Million.Blackbaud makes up approximately 1.77% of Smith Howard Wealth Management’s portfolio.

Other Hedge Funds, Including , Miles Capital added BLKB to its portfolio by purchasing 4,088 company shares during the most recent quarter which is valued at $243,972. Blackbaud makes up approx 0.16% of Miles Capital’s portfolio. Trexquant Investment Lp sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 7,300 shares of BLKB which is valued $435,664. Waratah Capital Advisors Ltd. sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 114,080 shares of BLKB which is valued $6.8 Million. Quadrant Capital Group added BLKB to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $2,100.

Blackbaud opened for trading at $59.55 and hit $59.65 on the upside on Friday, eventually ending the session at $59.42, with a gain of 0.44% or 0.26 points. The heightened volatility saw the trading volume jump to 2,21,575 shares. Company has a market cap of $2,822,272 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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