Arizona State Retirement System Trims Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

Arizona State Retirement System lowered its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,044 shares of the technology company’s stock after selling 225 shares during the quarter. Arizona State Retirement System’s holdings in Blackbaud were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Blackbaud by 2.7% in the 1st quarter. JPMorgan Chase & Co. now owns 143,241 shares of the technology company’s stock worth $8,576,000 after acquiring an additional 3,713 shares in the last quarter. American Century Companies Inc. increased its holdings in Blackbaud by 11.9% in the 1st quarter. American Century Companies Inc. now owns 6,669 shares of the technology company’s stock worth $399,000 after acquiring an additional 710 shares in the last quarter. US Bancorp DE increased its holdings in Blackbaud by 22.4% in the 1st quarter. US Bancorp DE now owns 5,120 shares of the technology company’s stock worth $306,000 after acquiring an additional 936 shares in the last quarter. Bank of Montreal Can increased its holdings in Blackbaud by 7.5% in the 1st quarter. Bank of Montreal Can now owns 9,679 shares of the technology company’s stock worth $600,000 after acquiring an additional 672 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Blackbaud by 47.7% in the 1st quarter. MetLife Investment Management LLC now owns 53,394 shares of the technology company’s stock worth $3,197,000 after acquiring an additional 17,240 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 3.1 %

BLKB stock opened at $79.13 on Tuesday. Blackbaud, Inc. has a 1-year low of $64.32 and a 1-year high of $88.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 2,637.67, a PEG ratio of 3.33 and a beta of 1.04. The business has a 50 day simple moving average of $72.75 and a two-hundred day simple moving average of $75.95.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results 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 posted $0.28 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts anticipate that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Robert W. Baird reduced their target price on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

Insiders Place Their Bets

In other Blackbaud news, CFO Anthony W. Boor sold 6,900 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $79.01, for a total value of $545,169.00. Following the completion of the transaction, the chief financial officer now directly owns 151,368 shares in the company, valued at approximately $11,959,585.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Gianoni sold 5,360 shares of the 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 completion of the transaction, the chief executive officer now directly owns 413,114 shares in the company, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony W. Boor sold 6,900 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.01, for a total value of $545,169.00. Following the transaction, the chief financial officer now owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders sold 59,897 shares of company stock worth $4,377,015 in the last three months. 1.89% of the stock is owned by company insiders.

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.