Blackbaud, Inc. (NASDAQ:BLKB) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,977 shares of the technology company’s stock after buying an additional 137 shares during the quarter. Arizona State Retirement System’s holdings in Blackbaud were worth $912,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Blackbaud by 13.6% in the 4th quarter. Victory Capital Management Inc. now owns 8,978 shares of the technology company’s stock worth $778,000 after buying an additional 1,073 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Blackbaud by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,200 shares of the technology company’s stock valued at $35,651,000 after acquiring an additional 3,670 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Blackbaud by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after purchasing an additional 24,910 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Blackbaud in the 4th quarter worth approximately $207,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Blackbaud in the 4th quarter worth approximately $296,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on BLKB shares. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird raised their price objective on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Blackbaud Price Performance

NASDAQ BLKB opened at $84.77 on Friday. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56. The stock’s 50-day moving average price is $78.99 and its two-hundred day moving average price is $76.76. The company has a market cap of $4.38 billion, a PE ratio of 206.76 and a beta of 1.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The business had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Blackbaud, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Blackbaud

In related news, SVP Jon W. Olson sold 4,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now directly owns 29,628 shares of the company’s stock, valued at approximately $2,251,728. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $76.00, for a total value of $304,000.00. Following the transaction, the senior vice president now owns 29,628 shares in the company, valued at approximately $2,251,728. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sarah E. Nash sold 3,220 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $76.18, for a total transaction of $245,299.60. Following the completion of the sale, the director now owns 26,823 shares of the company’s stock, valued at approximately $2,043,376.14. The disclosure for this sale can be found here. Insiders sold a total of 47,938 shares of company stock valued at $3,847,373 over the last quarter. Company insiders own 1.95% of the company’s stock.

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.