Blackbaud, Inc. (NASDAQ:BLKB) Holdings Raised by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,958 shares of the technology company’s stock after buying an additional 163 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Blackbaud worth $4,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLKB. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Blackbaud by 10.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,915 shares of the technology company’s stock worth $627,000 after buying an additional 852 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Blackbaud by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 273,064 shares of the technology company’s stock valued at $19,202,000 after purchasing an additional 16,903 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Blackbaud by 3.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,171 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 506 shares in the last quarter. Beck Bode LLC raised its holdings in shares of Blackbaud by 3.9% during the 3rd quarter. Beck Bode LLC now owns 94,193 shares of the technology company’s stock valued at $6,624,000 after purchasing an additional 3,514 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Blackbaud by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 284,676 shares of the technology company’s stock valued at $20,018,000 after purchasing an additional 3,886 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $78.03 on Monday. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The firm’s fifty day simple moving average is $73.95 and its 200 day simple moving average is $76.71. The company has a current ratio of 0.67, a quick ratio of 0.78 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $4.03 billion, a PE ratio of 190.32 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last posted its earnings results 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. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. During the same period last year, the business posted $0.28 EPS. Blackbaud’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

BLKB has been the topic of a number of recent research reports. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, April 27th. Robert W. Baird cut their price target on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th.

Insider Activity at Blackbaud

In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.48, for a total value of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares in the company, valued at approximately $12,579,140.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackbaud news, CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $79.48, for a total value of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares in the company, valued at approximately $12,579,140.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares in the company, valued at $11,959,585.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,897 shares of company stock worth $4,377,015. 1.89% of the stock is owned by insiders.

About Blackbaud

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.