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

Teachers Retirement System of The State of Kentucky raised its position in Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 52.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,336 shares of the technology company's stock after acquiring an additional 19,270 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of Blackbaud worth $4,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Blackbaud by 6.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company's stock valued at $239,000 after purchasing an additional 184 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Blackbaud by 86.3% in the second quarter. Raymond James & Associates now owns 19,150 shares of the technology company's stock worth $1,459,000 after acquiring an additional 8,870 shares during the period. DT Investment Partners LLC purchased a new stake in shares of Blackbaud during the second quarter worth about $33,000. Tributary Capital Management LLC lifted its holdings in Blackbaud by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 290,721 shares of the technology company's stock worth $22,144,000 after purchasing an additional 732 shares in the last quarter. Finally, Calamos Advisors LLC grew its holdings in Blackbaud by 95.9% during the 2nd quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company's stock valued at $2,945,000 after buying an additional 18,929 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackbaud

In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the sale, the senior vice president now owns 24,025 shares in the company, valued at approximately $2,042,125. This represents a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael P. Gianoni sold 9,479 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the sale, the chief executive officer now directly owns 344,079 shares in the company, valued at $30,323,682.27. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,394 shares of company stock worth $4,373,270 over the last quarter. Insiders own 1.95% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Baird R W cut shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird lowered Blackbaud from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Finally, Raymond James dropped their price objective on shares of Blackbaud from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Blackbaud presently has an average rating of "Hold" and a consensus target price of $86.67.

Blackbaud Stock Down 2.2 %

BLKB traded down $1.80 on Friday, hitting $78.46. The company had a trading volume of 107,704 shares, compared to its average volume of 229,942. Blackbaud, Inc. has a 12-month low of $66.47 and a 12-month high of $88.95. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 76.92 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a fifty day moving average price of $83.08 and a 200-day moving average price of $80.47.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). The company had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. Analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

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.