Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 9.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,654 shares of the technology company’s stock after selling 500 shares during the quarter. State of Alaska Department of Revenue’s holdings in Blackbaud were worth $403,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guggenheim Capital LLC boosted its holdings in Blackbaud by 4.2% in the 3rd quarter. Guggenheim Capital LLC now owns 6,064 shares of the technology company’s stock worth $268,000 after acquiring an additional 243 shares during the period. Sei Investments Co. boosted its holdings in Blackbaud by 2.9% in the 2nd quarter. Sei Investments Co. now owns 8,802 shares of the technology company’s stock worth $490,000 after acquiring an additional 244 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Blackbaud by 2.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 11,945 shares of the technology company’s stock worth $694,000 after acquiring an additional 263 shares during the period. Arizona State Retirement System boosted its stake in shares of Blackbaud by 2.6% during the 3rd quarter. Arizona State Retirement System now owns 12,269 shares of the technology company’s stock valued at $863,000 after buying an additional 311 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of Blackbaud by 8.0% during the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock valued at $299,000 after buying an additional 316 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Insider Activity at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,360 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the sale, the chief executive officer now directly owns 413,114 shares of the company’s stock, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Blackbaud news, CFO Anthony W. Boor sold 4,955 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.06, for a total value of $366,967.30. Following the sale, the chief financial officer now directly owns 166,413 shares of the company’s stock, valued at $12,324,546.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Gianoni sold 5,360 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total value of $396,908.00. Following the completion of the sale, the chief executive officer now directly owns 413,114 shares in the company, valued at $30,591,091.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,897 shares of company stock valued at $3,190,458. Corporate insiders own 1.89% of the company’s stock.

Blackbaud Stock Performance

Blackbaud stock opened at $76.72 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94. The stock has a market cap of $4.10 billion, a P/E ratio of 2,557.33, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. Blackbaud, Inc. has a 52 week low of $64.32 and a 52 week high of $88.56. The stock has a 50 day moving average of $72.75 and a 200-day moving average of $75.85.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, analysts expect that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BLKB has been the subject of several research analyst reports. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird reduced their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th.

About Blackbaud

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.