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

New York State Common Retirement Fund boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 63.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,250 shares of the technology company’s stock after purchasing an additional 109,630 shares during the quarter. New York State Common Retirement Fund’s holdings in Blackbaud were worth $20,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BLKB. TD Private Client Wealth LLC raised its position in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the period. KBC Group NV grew its stake in Blackbaud by 33.9% during the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after buying an additional 424 shares during the last quarter. Blue Trust Inc. grew its stake in Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after buying an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Blackbaud in the third quarter worth $142,000. Finally, Heritage Family Offices LLP lifted its stake in Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after buying an additional 166 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 3.1 %

NASDAQ:BLKB opened at $68.24 on Friday. Blackbaud, Inc. has a 1 year low of $66.07 and a 1 year high of $88.95. The business has a fifty day moving average of $76.14 and a 200-day moving average of $80.18. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -11.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Equities analysts predict that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.33.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 9,479 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.95% of the company’s stock.

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.