American Capital Management Inc Lowers stake in Blackbaud (BLKB)

Blackbaud (BLKB) : American Capital Management Inc reduced its stake in Blackbaud by 0.03% during the most recent quarter end. The investment management company now holds a total of 166,560 shares of Blackbaud which is valued at $11,149,526 after selling 45 shares in Blackbaud , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Blackbaud makes up approximately 0.89% of American Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Sawgrass Asset Management reduced its stake in BLKB by selling 12,380 shares or 80.03% in the most recent quarter. The Hedge Fund company now holds 3,090 shares of BLKB which is valued at $206,845. Blackbaud makes up approx 0.01% of Sawgrass Asset Management’s portfolio.California State Teachers Retirement System reduced its stake in BLKB by selling 461 shares or 0.46% in the most recent quarter. The Hedge Fund company now holds 99,108 shares of BLKB which is valued at $6,634,290. Blackbaud makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Quadrant Capital Group boosted its stake in BLKB in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 53 shares of Blackbaud which is valued at $3,543. Advisory Services Network added BLKB to its portfolio by purchasing 44 company shares during the most recent quarter which is valued at $2,989.

Blackbaud closed down -0.45 points or -0.67% at $67.09 with 1,25,679 shares getting traded on Monday. Post opening the session at $67.33, the shares hit an intraday low of $65.995 and an intraday high of $67.76 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Blackbaud reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $0.50. The company had revenue of $180.20 million for the quarter, compared to analysts expectations of $182.13 million. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Blackbaud. Company shares were Reiterated by Wunderlich on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 78 from a previous price target of $69 .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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