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

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,066 shares of the technology company’s stock after selling 3,083 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Blackbaud were worth $2,823,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. DT Investment Partners LLC bought a new position in Blackbaud in the 2nd quarter worth approximately $33,000. Quest Partners LLC boosted its holdings in Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the period. YHB Investment Advisors Inc. bought a new position in Blackbaud in the 1st quarter worth approximately $54,000. Parallel Advisors LLC boosted its holdings in Blackbaud by 303.3% in the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after buying an additional 552 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in Blackbaud by 447.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after buying an additional 2,078 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insider Buying and Selling at Blackbaud

In other news, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Jon W. Olson sold 4,000 shares of Blackbaud stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sarah E. Nash sold 3,220 shares of Blackbaud stock in a transaction 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 sale, the director now directly owns 26,823 shares of the company’s stock, valued at $2,043,376.14. The disclosure for this sale can be found here. Insiders sold a total of 55,409 shares of company stock valued at $4,483,193 in the last three months. Company insiders own 1.95% of the company’s stock.

Blackbaud Stock Down 1.7 %

Shares of NASDAQ:BLKB opened at $81.95 on Friday. The firm has a fifty day moving average price of $80.87 and a two-hundred day moving average price of $78.00. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 199.88 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last announced 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 firm had revenue of $287.29 million during the quarter, compared to the consensus estimate of $289.26 million. During the same period last year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that Blackbaud, Inc. will post 2.46 EPS for the current fiscal year.

Blackbaud announced that its board has initiated a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 18.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on BLKB shares. Evercore ISI raised shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Finally, Robert W. Baird raised their price target on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, August 1st.

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.