Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 336,788 shares of the technology company’s stock after selling 1,022 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.65% of Blackbaud worth $25,653,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BLKB. Intech Investment Management LLC bought a new stake in shares of Blackbaud during the 2nd quarter worth $646,000. Gardner Lewis Asset Management L P acquired a new stake in Blackbaud during the second quarter valued at $556,000. Dimensional Fund Advisors LP boosted its position in Blackbaud by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after purchasing an additional 8,761 shares during the last quarter. Kestrel Investment Management Corp acquired a new stake in Blackbaud during the second quarter valued at $4,795,000. Finally, Envestnet Asset Management Inc. boosted its position in Blackbaud by 7.2% during the second quarter. Envestnet Asset Management Inc. now owns 130,517 shares of the technology company’s stock valued at $9,941,000 after purchasing an additional 8,799 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Blackbaud Price Performance

BLKB stock opened at $85.69 on Friday. The stock has a 50-day moving average price of $79.56 and a two-hundred day moving average price of $77.20. The stock has a market cap of $4.42 billion, a PE ratio of 209.00 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, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. Blackbaud’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. Equities analysts forecast that Blackbaud, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jon W. Olson sold 2,000 shares of Blackbaud stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the sale, the senior vice president now directly owns 24,025 shares in the company, valued at $2,042,125. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the senior vice president now directly owns 24,025 shares in the company, valued at $2,042,125. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the business’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 transaction of $304,000.00. Following the transaction, the senior vice president now owns 29,628 shares of the company’s stock, valued at $2,251,728. The disclosure for this sale can be found here. Insiders sold 53,148 shares of company stock worth $4,290,736 over the last three months. 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.