New York State Common Retirement Fund Has $18.59 Million Stock Position in Blackbaud, Inc. (NASDAQ:BLKB)

New York State Common Retirement Fund increased its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,632 shares of the technology company's stock after buying an additional 17,382 shares during the quarter. New York State Common Retirement Fund owned 0.62% of Blackbaud worth $18,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kesler Norman & Wride LLC raised its position in Blackbaud by 35.5% in the first quarter. Kesler Norman & Wride LLC now owns 11,494 shares of the technology company's stock valued at $713,000 after purchasing an additional 3,014 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Blackbaud by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company's stock valued at $8,131,000 after purchasing an additional 2,582 shares during the last quarter. Calamos Advisors LLC raised its position in Blackbaud by 49.8% in the first quarter. Calamos Advisors LLC now owns 136,734 shares of the technology company's stock valued at $8,484,000 after purchasing an additional 45,483 shares during the last quarter. Teacher Retirement System of Texas raised its position in Blackbaud by 21.8% in the first quarter. Teacher Retirement System of Texas now owns 5,938 shares of the technology company's stock valued at $368,000 after purchasing an additional 1,063 shares during the last quarter. Finally, KBC Group NV raised its position in Blackbaud by 31.8% in the first quarter. KBC Group NV now owns 2,209 shares of the technology company's stock valued at $137,000 after purchasing an additional 533 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Chad Anderson sold 5,500 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the sale, the chief financial officer owned 35,976 shares of the company's stock, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 10,698 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $61.15, for a total value of $654,182.70. Following the sale, the senior vice president directly owned 23,799 shares of the company's stock, valued at $1,455,308.85. This represents a 31.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus dropped their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $78.67.

Blackbaud Trading Up 0.2%

Shares of BLKB stock traded up $0.12 on Friday, hitting $64.08. The company had a trading volume of 188,412 shares, compared to its average volume of 248,136. The firm has a market cap of $3.11 billion, a P/E ratio of -10.86, a P/E/G ratio of 4.73 and a beta of 1.14. The stock's 50-day moving average is $63.27 and its two-hundred day moving average is $66.68. The company has a debt-to-equity ratio of 35.64, a quick ratio of 0.73 and a current ratio of 0.73. Blackbaud, Inc. has a twelve month low of $58.05 and a twelve month high of $88.95.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.06. The company had revenue of $270.66 million during the quarter, compared to analysts' expectations of $268.53 million. Blackbaud had a positive return on equity of 38.58% and a negative net margin of 25.05%. The business's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, equities research analysts anticipate that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

About Blackbaud

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.