Conestoga Capital Advisors Lowers stake in Blackbaud (BLKB)

Blackbaud (BLKB) : Conestoga Capital Advisors reduced its stake in Blackbaud by 13.59% during the most recent quarter end. The investment management company now holds a total of 659,661 shares of Blackbaud which is valued at $46,492,907 after selling 103,705 shares in Blackbaud , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.Blackbaud makes up approximately 3.38% of Conestoga Capital Advisors’s portfolio.

Other Hedge Funds, Including , Gemmer Asset Management boosted its stake in BLKB in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 115 shares of Blackbaud which is valued at $8,105. Rockefeller Financial Services Inc sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 237 shares of BLKB which is valued $16,704. Trust Co Of Vermont added BLKB to its portfolio by purchasing 130 company shares during the most recent quarter which is valued at $9,242.Raymond James Trust N.a. reduced its stake in BLKB by selling 122 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 3,153 shares of BLKB which is valued at $215,444. Blackbaud makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.

Blackbaud closed down -0.12 points or -0.18% at $66.85 with 3,46,347 shares getting traded on Friday. Post opening the session at $66.92, the shares hit an intraday low of $65.9 and an intraday high of $67.02 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. Company shares were Reiterated by Stifel on Jun 30, 2016 to “Buy”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .

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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