Strs Ohio Sells 1,600 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Strs Ohio lowered its position in Blackbaud, Inc. (NASDAQ:BLKB) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,400 shares of the technology company’s stock after selling 1,600 shares during the period. Strs Ohio’s holdings in Blackbaud were worth $1,248,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of Blackbaud in the 4th quarter valued at $1,049,000. Trust Point Inc. bought a new stake in shares of Blackbaud in the 4th quarter valued at $729,000. Pacer Advisors Inc. increased its position in shares of Blackbaud by 157.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,270 shares of the technology company’s stock valued at $804,000 after buying an additional 5,669 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Blackbaud in the 4th quarter valued at $562,000. Finally, Nordea Investment Management AB increased its position in shares of Blackbaud by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 80,256 shares of the technology company’s stock valued at $7,033,000 after buying an additional 5,266 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Insider Transactions at Blackbaud

In other news, COO Kevin P. Gregoire sold 3,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the transaction, the chief operating officer now directly owns 133,641 shares in the company, valued at approximately $9,889,434. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Kevin P. Gregoire sold 3,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $74.00, for a total transaction of $222,000.00. Following the completion of the transaction, the chief operating officer now directly owns 133,641 shares in the company, valued at approximately $9,889,434. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares of the company’s stock, valued at $11,959,585.68. The disclosure for this sale can be found here. Insiders sold a total of 59,897 shares of company stock worth $4,377,015 in the last three months. Insiders own 1.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird lowered their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. StockNews.com cut Blackbaud from a “buy” rating to a “hold” rating in a report on Friday.

Blackbaud Price Performance

BLKB stock opened at $78.63 on Tuesday. The stock has a 50-day moving average price of $72.39 and a two-hundred day moving average price of $76.23. The stock has a market cap of $4.20 billion, a PE ratio of 2,621.00 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The company had revenue of $295.01 million during the quarter, compared to the consensus estimate of $299.04 million. During the same period in the prior year, the business posted $0.28 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

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.