Teachers Retirement System of The State of Kentucky Decreases Position in Blackbaud, Inc. (NASDAQ:BLKB)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 21.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,257 shares of the technology company’s stock after selling 12,890 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Blackbaud were worth $2,777,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BLKB. Clearlake Capital Group L.P. purchased a new stake in Blackbaud during the fourth quarter worth approximately $271,019,000. Norges Bank purchased a new stake in Blackbaud in the fourth quarter valued at approximately $39,222,000. Van Berkom & Associates Inc. lifted its stake in Blackbaud by 43.8% in the fourth quarter. Van Berkom & Associates Inc. now owns 1,280,528 shares of the technology company’s stock valued at $73,707,000 after buying an additional 389,785 shares during the last quarter. FMR LLC lifted its stake in Blackbaud by 230.0% in the first quarter. FMR LLC now owns 538,047 shares of the technology company’s stock valued at $42,898,000 after buying an additional 374,999 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Blackbaud by 13.4% in the fourth quarter. Van ECK Associates Corp now owns 1,754,418 shares of the technology company’s stock valued at $100,984,000 after buying an additional 207,522 shares during the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.

In related news, CEO Michael P. Gianoni sold 23,000 shares of the company’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $71.53, for a total transaction of $1,645,190.00. Following the transaction, the chief executive officer now owns 349,098 shares of the company’s stock, valued at $24,970,979.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jon W. Olson sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $72.23, for a total value of $361,150.00. Following the transaction, the senior vice president now directly owns 64,216 shares in the company, valued at approximately $4,638,321.68. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock worth $3,177,815. Corporate insiders own 1.33% of the company’s stock.

A number of brokerages have weighed in on BLKB. DA Davidson boosted their price objective on Blackbaud from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, March 4th. Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating and set a $84.00 price objective for the company. in a research note on Thursday, February 11th. Finally, Benchmark upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Wednesday, February 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $81.75.

NASDAQ:BLKB opened at $71.97 on Friday. The firm has a market cap of $3.48 billion, a P/E ratio of 153.13, a PEG ratio of 7.76 and a beta of 1.20. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.13. The stock’s 50 day simple moving average is $71.24 and its 200-day simple moving average is $62.17. Blackbaud, Inc. has a 12-month low of $45.77 and a 12-month high of $80.00.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Sunday, February 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The business had revenue of $242.61 million for the quarter, compared to analyst estimates of $228.41 million. Blackbaud had a return on equity of 17.03% and a net margin of 2.49%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Research analysts forecast that Blackbaud, Inc. will post 1.58 EPS for the current fiscal year.

Blackbaud Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, and individual change agents in the United States and internationally. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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