Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 63.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,250 shares of the technology company’s stock after acquiring an additional 109,630 shares during the period. New York State Common Retirement Fund owned approximately 0.57% of Blackbaud worth $20,864,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its stake in shares of Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after acquiring an additional 347 shares during the period. KBC Group NV increased its holdings in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after purchasing an additional 424 shares in the last quarter. Blue Trust Inc. raised its position in Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Blackbaud during the third quarter worth about $142,000. Finally, Heritage Family Offices LLP lifted its stake in shares of Blackbaud by 5.9% during the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Up 3.1 %

Shares of NASDAQ BLKB opened at $68.24 on Friday. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. Blackbaud, Inc. has a 1 year low of $66.07 and a 1 year high of $88.95. The stock’s 50-day simple moving average is $76.14 and its 200-day simple moving average is $80.18. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -11.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million for the quarter, compared to analysts’ expectations of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. As a group, equities analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at $30,323,682.27. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.