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

New York State Common Retirement Fund lifted its position in Blackbaud, Inc. (NASDAQ:BLKB) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 177,630 shares of the technology company’s stock after buying an additional 321 shares during the quarter. New York State Common Retirement Fund’s holdings in Blackbaud were worth $15,401,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Blackbaud by 3.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock valued at $797,000 after buying an additional 277 shares during the period. Arizona State Retirement System increased its holdings in shares of Blackbaud by 2.6% in the 3rd quarter. Arizona State Retirement System now owns 12,269 shares of the technology company’s stock valued at $863,000 after purchasing an additional 311 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Blackbaud by 8.0% in the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock valued at $299,000 after purchasing an additional 316 shares during the period. Operose Advisors LLC purchased a new stake in shares of Blackbaud in the third quarter worth approximately $25,000. Finally, Legacy Advisors LLC boosted its holdings in shares of Blackbaud by 5.3% during the third quarter. Legacy Advisors LLC now owns 7,497 shares of the technology company’s stock worth $527,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday.

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 3,100 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the transaction, the chief financial officer now owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael P. Gianoni sold 5,360 shares of Blackbaud stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.05, for a total value of $396,908.00. Following the transaction, the chief executive officer now owns 413,114 shares of the company’s stock, valued at $30,591,091.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock worth $4,377,015 over the last three months. Corporate insiders own 1.89% of the company’s stock.

Blackbaud Stock Up 1.2 %

Shares of Blackbaud stock opened at $78.90 on Tuesday. The stock has a 50-day simple moving average of $73.20 and a 200-day simple moving average of $76.54. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 2,630.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share 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 the consensus estimate of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. Blackbaud’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. On average, equities research analysts expect that Blackbaud, Inc. will post 2.35 earnings per share for the current fiscal year.

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.