California Public Employees Retirement System Grows Position in Blackbaud, Inc. (NASDAQ:BLKB)

California Public Employees Retirement System boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% in the 4th quarter, HoldingsChannel reports. The fund owned 285,645 shares of the technology company’s stock after acquiring an additional 969 shares during the quarter. California Public Employees Retirement System’s holdings in Blackbaud were worth $24,765,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Operose Advisors LLC purchased a new position in shares of Blackbaud in the third quarter valued at $25,000. FSC Wealth Advisors LLC purchased a new position in shares of Blackbaud in the third quarter valued at $40,000. Gotham Asset Management LLC increased its position in shares of Blackbaud by 8.0% in the third 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 in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Blackbaud in the third quarter valued at $311,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Blackbaud in the third quarter valued at $352,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BLKB. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird decreased their price objective on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the sale, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the sale, the chief executive officer now directly owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 151,368 shares in the company, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock valued at $4,377,015 over the last quarter. Insiders own 1.89% of the company’s stock.

Blackbaud Stock Down 0.4 %

BLKB opened at $77.95 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. The firm has a market cap of $4.03 billion, a P/E ratio of 2,598.33 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 business’s fifty day simple moving average is $73.00 and its 200 day simple moving average is $76.47.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. As a group, equities research analysts anticipate that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

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.