California Public Employees Retirement System cut its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,000 shares of the technology company’s stock after selling 2,800 shares during the quarter. California Public Employees Retirement System owned 0.15% of Blackbaud worth $5,831,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BLKB. UBS Asset Management Americas Inc. increased its position in shares of Blackbaud by 20.9% in the first quarter. UBS Asset Management Americas Inc. now owns 25,200 shares of the technology company’s stock valued at $1,932,000 after buying an additional 4,362 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Blackbaud by 0.4% in the first quarter. Prudential Financial Inc. now owns 81,969 shares of the technology company’s stock valued at $6,285,000 after buying an additional 320 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Blackbaud by 15.1% in the first quarter. OppenheimerFunds Inc. now owns 7,918 shares of the technology company’s stock valued at $607,000 after buying an additional 1,038 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Blackbaud by 3.4% in the first quarter. Teachers Advisors LLC now owns 94,092 shares of the technology company’s stock valued at $7,214,000 after buying an additional 3,119 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Blackbaud by 1.6% in the first quarter. Legal & General Group Plc now owns 83,886 shares of the technology company’s stock valued at $6,430,000 after buying an additional 1,323 shares in the last quarter.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Robert W. Baird set a $85.00 price objective on Blackbaud and gave the company a “hold” rating in a research report on Sunday, October 1st. Citigroup Inc. assumed coverage on Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price objective for the company. B. Riley restated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a research report on Monday, August 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $85.25.

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Shares of Blackbaud, Inc. (BLKB) opened at 90.71 on Monday. Blackbaud, Inc. has a 12 month low of $55.88 and a 12 month high of $93.81. The stock has a market capitalization of $4.23 billion, a PE ratio of 87.31 and a beta of 0.84. The company’s 50 day moving average price is $85.87 and its 200 day moving average price is $84.44.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million during the quarter, compared to analyst estimates of $193.66 million. During the same period in the prior year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Blackbaud, Inc. will post $2.13 earnings per share for the current fiscal year.

In related news, Director George H. Ellis sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the completion of the transaction, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 5,282 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the completion of the transaction, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The disclosure for this sale can be found here. Insiders sold a total of 20,752 shares of company stock valued at $1,771,517 over the last ninety days. 2.19% of the stock is currently owned by company insiders.

Blackbaud Company Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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