New York State Common Retirement Fund Lowers Stock Holdings in Blackbaud, Inc. $BLKB

New York State Common Retirement Fund reduced its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 38.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,023 shares of the technology company’s stock after selling 115,314 shares during the period. New York State Common Retirement Fund owned 0.38% of Blackbaud worth $11,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Blackbaud by 215.9% in the second quarter. CWM LLC now owns 458 shares of the technology company’s stock valued at $29,000 after purchasing an additional 313 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Blackbaud during the 2nd quarter valued at $33,000. GAMMA Investing LLC lifted its holdings in shares of Blackbaud by 46.6% in the 3rd quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock worth $50,000 after buying an additional 247 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Blackbaud by 68.3% in the 3rd quarter. Versant Capital Management Inc now owns 786 shares of the technology company’s stock worth $51,000 after buying an additional 319 shares during the period. Finally, State of Wyoming bought a new position in shares of Blackbaud during the 2nd quarter worth $136,000. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Stifel Nicolaus set a $70.00 price target on shares of Blackbaud in a report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $73.00.

Blackbaud Stock Down 2.5%

NASDAQ:BLKB opened at $52.36 on Tuesday. The company’s 50-day simple moving average is $59.89 and its 200-day simple moving average is $62.59. The company has a debt-to-equity ratio of 9.63, a quick ratio of 0.69 and a current ratio of 0.69. Blackbaud, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $81.39. The stock has a market capitalization of $2.50 billion, a P/E ratio of -10.07, a P/E/G ratio of 1.98 and a beta of 1.10.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 1,600 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total value of $90,384.00. Following the completion of the sale, the director owned 6,366 shares of the company’s stock, valued at approximately $359,615.34. This trade represents a 20.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the sale, the chief executive officer owned 372,985 shares in the company, valued at $21,513,774.80. The trade was a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.97% of the stock is owned by insiders.

Blackbaud Profile

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.