Texas Permanent School Fund Cuts Stake in Blackbaud, Inc. (NASDAQ:BLKB)

Texas Permanent School Fund trimmed its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 29,775 shares of the technology company’s stock after selling 1,902 shares during the period. Texas Permanent School Fund’s holdings in Blackbaud were worth $1,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLKB. First Trust Advisors LP boosted its stake in shares of Blackbaud by 2,238.8% during the first quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock valued at $32,015,000 after purchasing an additional 511,876 shares in the last quarter. Vanguard Group Inc. boosted its position in Blackbaud by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock valued at $294,361,000 after acquiring an additional 339,922 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Blackbaud by 3.6% in the 1st quarter. BlackRock Inc. now owns 5,320,025 shares of the technology company’s stock valued at $318,510,000 after acquiring an additional 186,768 shares during the period. Geneva Capital Management LLC raised its position in shares of Blackbaud by 24.3% in the 4th quarter. Geneva Capital Management LLC now owns 877,192 shares of the technology company’s stock worth $51,632,000 after acquiring an additional 171,372 shares in the last quarter. Finally, Clearline Capital LP purchased a new stake in shares of Blackbaud during the 3rd quarter worth $6,070,000. 97.39% of the stock is currently owned by institutional investors.

Blackbaud Stock Up 0.8 %

Shares of BLKB stock opened at $70.37 on Friday. The stock’s fifty day moving average price is $64.56 and its 200 day moving average price is $60.82. Blackbaud, Inc. has a 1-year low of $43.54 and a 1-year high of $71.37. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -73.30, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.67 and a quick ratio of 0.67.

Want More Great Investing Ideas?

Blackbaud (NASDAQ:BLKB – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $274.76 million for the quarter, compared to analyst estimates of $278.24 million. Blackbaud had a positive return on equity of 8.29% and a negative net margin of 4.68%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, research analysts expect that Blackbaud, Inc. will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other news, EVP Kevin Mcdearis sold 12,421 shares of Blackbaud stock in a transaction on Monday, February 13th. The shares were sold at an average price of $57.51, for a total transaction of $714,331.71. Following the completion of the sale, the executive vice president now directly owns 77,605 shares in the company, valued at $4,463,063.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Jon W. Olson sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $69.70, for a total value of $243,950.00. Following the transaction, the senior vice president now owns 47,152 shares in the company, valued at approximately $3,286,494.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin Mcdearis sold 12,421 shares of Blackbaud stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.51, for a total transaction of $714,331.71. Following the sale, the executive vice president now owns 77,605 shares of the company’s stock, valued at $4,463,063.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,061 shares of company stock worth $3,412,392. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com lowered Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $66.00 to $84.00 in a research report on Thursday, May 4th.

Blackbaud Profile

(Get Rating)

Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.