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

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,317 shares of the technology company’s stock after purchasing an additional 4,156 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Blackbaud worth $3,495,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Blackbaud by 1.3% in the third quarter. Vanguard Group Inc. now owns 5,550,857 shares of the technology company’s stock valued at $390,336,000 after buying an additional 70,115 shares during the last quarter. Morgan Stanley lifted its stake in Blackbaud by 1.7% in the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after buying an additional 72,071 shares during the last quarter. Hawk Ridge Capital Management LP lifted its stake in Blackbaud by 15.6% in the third quarter. Hawk Ridge Capital Management LP now owns 1,484,580 shares of the technology company’s stock valued at $104,396,000 after buying an additional 200,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Blackbaud by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after buying an additional 24,910 shares during the last quarter. Finally, Norges Bank purchased a new stake in Blackbaud in the fourth quarter valued at approximately $43,589,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 0.3 %

NASDAQ:BLKB opened at $76.97 on Wednesday. The firm has a market cap of $3.97 billion, a P/E ratio of 187.74 and a beta of 1.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91. The stock’s 50 day simple moving average is $77.75 and its 200-day simple moving average is $78.11. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, April 30th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $279.25 million for the quarter, compared to analyst estimates of $282.22 million. Blackbaud had a return on equity of 16.66% and a net margin of 1.94%. Equities analysts anticipate that Blackbaud, Inc. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

Insider Activity

In other news, CFO Anthony W. Boor sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total value of $246,388.00. Following the transaction, the chief financial officer now owns 158,268 shares of the company’s stock, valued at $12,579,140.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Kevin P. Gregoire sold 5,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the chief operating officer now owns 128,641 shares of the company’s stock, valued at $10,162,639. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony W. Boor sold 3,100 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total value of $246,388.00. Following the transaction, the chief financial officer now directly owns 158,268 shares in the company, valued at approximately $12,579,140.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,468 shares of company stock valued at $2,858,894. Company insiders own 1.95% of the company’s stock.

Blackbaud 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.