Texas Permanent School Fund Sells 909 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Texas Permanent School Fund reduced its position in shares of Blackbaud, Inc. (NASDAQ:BLKBGet Rating) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,677 shares of the technology company’s stock after selling 909 shares during the quarter. Texas Permanent School Fund’s holdings in Blackbaud were worth $1,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Michigan Retirement System increased its stake in Blackbaud by 1.8% during the 2nd quarter. State of Michigan Retirement System now owns 11,548 shares of the technology company’s stock valued at $671,000 after purchasing an additional 200 shares in the last quarter. SQN Investors LP bought a new stake in Blackbaud during the 2nd quarter valued at about $559,000. Becker Capital Management Inc. increased its stake in Blackbaud by 1.3% during the 2nd quarter. Becker Capital Management Inc. now owns 347,288 shares of the technology company’s stock valued at $20,167,000 after purchasing an additional 4,382 shares in the last quarter. Grandfield & Dodd LLC boosted its holdings in shares of Blackbaud by 8.3% during the 2nd quarter. Grandfield & Dodd LLC now owns 151,535 shares of the technology company’s stock valued at $8,800,000 after acquiring an additional 11,635 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in shares of Blackbaud by 6.6% during the 2nd quarter. Van Berkom & Associates Inc. now owns 989,048 shares of the technology company’s stock valued at $57,434,000 after acquiring an additional 61,457 shares during the last quarter. 97.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Kevin P. Gregoire sold 1,023 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $58.78, for a total value of $60,131.94. Following the sale, the chief operating officer now owns 97,358 shares in the company, valued at $5,722,703.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

BLKB has been the topic of a number of recent analyst reports. TheStreet raised shares of Blackbaud from a “d+” rating to a “c-” rating in a report on Friday, December 2nd. StockNews.com assumed coverage on shares of Blackbaud in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Blackbaud Trading Up 0.7 %

Blackbaud stock opened at $61.80 on Friday. The stock has a market cap of $3.28 billion, a P/E ratio of -99.68, a PEG ratio of 8.77 and a beta of 1.09. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.63 and a quick ratio of 0.63. Blackbaud, Inc. has a 1 year low of $43.54 and a 1 year high of $77.90. The firm’s 50 day moving average price is $58.56 and its 200-day moving average price is $55.45.

Blackbaud (NASDAQ:BLKBGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The firm had revenue of $261.30 million for the quarter, compared to analysts’ expectations of $261.38 million. Blackbaud had a negative net margin of 3.03% and a positive return on equity of 6.95%. On average, equities analysts predict that Blackbaud, Inc. will post 0.85 earnings per share for the current fiscal year.

Blackbaud Company Profile

(Get Rating)

Blackbaud, Inc provides cloud software solutions to higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser's Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express, and Blackbaud School Website System; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.

See Also

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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