Blackbaud, Inc. (NASDAQ:BLKB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,660 shares of the technology company’s stock after selling 827 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Blackbaud worth $3,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLKB. TD Private Client Wealth LLC grew its position in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares during the last quarter. KBC Group NV boosted its position in shares of Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock worth $124,000 after buying an additional 424 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after buying an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Blackbaud in the 3rd quarter valued at about $142,000. Finally, Heritage Family Offices LLP raised its stake in Blackbaud by 5.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock valued at $221,000 after purchasing an additional 166 shares during the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLKB. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.67.

Blackbaud Stock Up 2.2 %

NASDAQ BLKB opened at $79.76 on Tuesday. The stock has a market cap of $3.93 billion, a PE ratio of 78.20 and a beta of 1.08. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The business has a 50 day moving average price of $77.17 and a two-hundred day moving average price of $80.40. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79.

Insiders Place Their Bets

In other news, Director Sarah E. Nash sold 1,600 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $83.46, for a total transaction of $133,536.00. Following the completion of the transaction, the director now directly owns 22,123 shares in the company, valued at approximately $1,846,385.58. This represents a 6.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 9,479 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the transaction, the chief executive officer now owns 344,079 shares of the company’s stock, valued at approximately $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 sold a total of 34,204 shares of company stock worth $2,909,997 in the last 90 days. 1.95% of the stock is owned by company insiders.

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.