New York State Teachers Retirement System Has $4.71 Million Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

New York State Teachers Retirement System cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,345 shares of the technology company’s stock after selling 5,064 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Blackbaud worth $4,712,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BLKB. Morgan Stanley increased its holdings in shares of Blackbaud by 865.3% during the 4th quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock worth $233,678,000 after acquiring an additional 3,558,788 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Blackbaud by 2,238.8% during the 1st quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock worth $32,015,000 after acquiring an additional 511,876 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Blackbaud by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock worth $294,361,000 after acquiring an additional 339,922 shares during the last quarter. Norges Bank acquired a new position in shares of Blackbaud during the 4th quarter worth approximately $15,731,000. Finally, American Century Companies Inc. boosted its stake in Blackbaud by 499.1% in the 3rd quarter. American Century Companies Inc. now owns 308,034 shares of the technology company’s stock valued at $21,661,000 after purchasing an additional 256,619 shares during the period. 94.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now directly owns 161,368 shares in the company, valued at approximately $11,941,232. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now directly owns 161,368 shares in the company, valued at approximately $11,941,232. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kevin P. Gregoire sold 3,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $74.00, for a total value of $222,000.00. Following the sale, the chief operating officer now owns 133,641 shares of the company’s stock, valued at $9,889,434. The disclosure for this sale can be found here. Insiders sold a total of 44,897 shares of company stock worth $3,190,458 in the last ninety days. 1.89% of the stock is owned by insiders.

Blackbaud Stock Performance

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

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The business had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. During the same period in the prior year, the company earned $0.28 EPS. Blackbaud’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.