Rgm Capital buys $51.9 Million stake in Blackbaud (BLKB)

Blackbaud (BLKB) : Rgm Capital scooped up 11,200 additional shares in Blackbaud during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 869,561 shares of Blackbaud which is valued at $51.9 Million.Blackbaud makes up approximately 6.54% of Rgm Capital’s portfolio.

Other Hedge Funds, Including , O’shaughnessy Asset Management sold out all of its stake in BLKB during the most recent quarter. The investment firm sold 1,954 shares of BLKB which is valued $116,615. Segall Bryant Hamill added BLKB to its portfolio by purchasing 14,473 company shares during the most recent quarter which is valued at $863,749. Blackbaud makes up approx 0.02% of Segall Bryant Hamill’s portfolio. Summit Securities Group added BLKB to its portfolio by purchasing 5,876 company shares during the most recent quarter which is valued at $350,680. Blackbaud makes up approx 0.25% of Summit Securities Group’s portfolio.First Trust Advisors Lp reduced its stake in BLKB by selling 14,811 shares or 32.57% in the most recent quarter. The Hedge Fund company now holds 30,660 shares of BLKB which is valued at $1.8 Million. Blackbaud makes up approx 0.01% of First Trust Advisors Lp’s portfolio.Ls Investment Advisors boosted its stake in BLKB in the latest quarter, The investment management firm added 92 additional shares and now holds a total of 1,637 shares of Blackbaud which is valued at $97,696. Blackbaud makes up approx 0.01% of Ls Investment Advisors’s portfolio.

Blackbaud closed down -0.54 points or -0.87% at $61.45 with 1,20,615 shares getting traded on Wednesday. Post opening the session at $62.17, the shares hit an intraday low of $61.11 and an intraday high of $62.17 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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. 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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