Arizona State Retirement System Sells 225 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Arizona State Retirement System reduced its position in Blackbaud, Inc. (NASDAQ:BLKB) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,044 shares of the technology company’s stock after selling 225 shares during the quarter. Arizona State Retirement System’s holdings in Blackbaud were worth $1,044,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BLKB. Operose Advisors LLC bought a new position in shares of Blackbaud in the third quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new position in shares of Blackbaud in the first quarter valued at approximately $35,000. FSC Wealth Advisors LLC bought a new stake in Blackbaud during the third quarter valued at approximately $40,000. Point72 Middle East FZE bought a new stake in Blackbaud during the fourth quarter valued at approximately $109,000. Finally, Captrust Financial Advisors lifted its position in Blackbaud by 20.1% during the first quarter. Captrust Financial Advisors now owns 2,232 shares of the technology company’s stock valued at $134,000 after purchasing an additional 374 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Trading Up 3.1 %

BLKB stock opened at $79.13 on Tuesday. The company has a market capitalization of $4.23 billion, a PE ratio of 2,637.67, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company’s 50 day moving average price is $72.75 and its two-hundred day moving average price is $75.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm 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%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, analysts predict that Blackbaud, Inc. will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackbaud news, CFO Anthony W. Boor sold 6,900 shares of Blackbaud stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the transaction, the chief financial officer now directly owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Anthony W. Boor sold 6,900 shares of Blackbaud stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.01, for a total value of $545,169.00. Following the transaction, the chief financial officer now directly owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction 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 $24,558,042.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,897 shares of company stock valued at $4,377,015. 1.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BLKB has been the subject of several research analyst reports. Robert W. Baird dropped 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 shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th.

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.