Retirement Systems of Alabama Has $4.68 Million Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Retirement Systems of Alabama increased its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,958 shares of the technology company’s stock after acquiring an additional 163 shares during the period. Retirement Systems of Alabama’s holdings in Blackbaud were worth $4,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Blackbaud by 1.3% during the third quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock worth $390,336,000 after acquiring an additional 70,115 shares during the period. Morgan Stanley increased its stake in Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after buying an additional 72,071 shares during the last quarter. Hawk Ridge Capital Management LP increased its stake in Blackbaud by 15.6% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after buying an additional 200,000 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in Blackbaud by 11.8% in the 3rd quarter. Van Berkom & Associates Inc. now owns 823,229 shares of the technology company’s stock valued at $57,889,000 after buying an additional 86,952 shares during the last quarter. Finally, American Century Companies Inc. increased 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 buying an additional 256,619 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BLKB shares. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, April 27th. Robert W. Baird lowered their price target on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th.

Insider Buying and Selling at Blackbaud

In other news, COO Kevin P. Gregoire sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the sale, the chief operating officer now owns 133,641 shares in the company, valued at approximately $9,889,434. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Blackbaud news, COO Kevin P. Gregoire sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the sale, the chief operating officer now directly owns 133,641 shares in the company, valued at $9,889,434. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at approximately $24,558,042.08. 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 ninety days. Insiders own 1.89% of the company’s stock.

Blackbaud Stock Down 0.5 %

Blackbaud stock opened at $78.03 on Monday. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.78. The firm has a market capitalization of $4.03 billion, a PE ratio of 190.32 and a beta of 1.01. The company’s 50-day moving average is $73.95 and its 200-day moving average is $76.71.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $295.01 million during the quarter, compared to analysts’ expectations of $299.04 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. Sell-side analysts anticipate that Blackbaud, Inc. will post 2.3 earnings per share for the current 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.