New York State Common Retirement Fund Grows Position in Blackbaud, Inc. (NASDAQ:BLKB)

New York State Common Retirement Fund grew its stake in Blackbaud, Inc. (NASDAQ:BLKB) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,630 shares of the technology company’s stock after acquiring an additional 321 shares during the quarter. New York State Common Retirement Fund owned about 0.33% of Blackbaud worth $15,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Operose Advisors LLC acquired a new stake in Blackbaud in the 3rd quarter worth about $25,000. FSC Wealth Advisors LLC acquired a new stake in shares of Blackbaud in the third quarter worth approximately $40,000. Gotham Asset Management LLC boosted its position in shares of Blackbaud by 8.0% in the third quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company’s stock worth $299,000 after acquiring an additional 316 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Blackbaud in the third quarter valued at approximately $311,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Blackbaud during the third quarter worth approximately $352,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BLKB. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird reduced their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th.

Blackbaud Stock Up 1.2 %

BLKB opened at $78.90 on Tuesday. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The firm has a 50 day moving average price of $73.20 and a 200 day moving average price of $76.54. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $4.07 billion, a PE ratio of 2,630.00 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The business had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. During the same quarter in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Blackbaud, Inc. will post 2.35 earnings per share for the current year.

Insider Activity at Blackbaud

In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares in the company, valued at approximately $24,558,042.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the transaction, the chief executive officer now owns 357,104 shares in the company, valued at approximately $24,558,042.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Gianoni sold 5,360 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.05, for a total value of $396,908.00. Following the sale, the chief executive officer now owns 413,114 shares of the company’s stock, valued at $30,591,091.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,897 shares of company stock worth $4,377,015. 1.89% of the stock is currently owned by company 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.