Louisiana State Employees Retirement System Invests $1.05 Million in Blackbaud, Inc. (NASDAQ:BLKB)

Louisiana State Employees Retirement System bought a new position in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,100 shares of the technology company's stock, valued at approximately $1,049,000.

Several other large investors have also recently modified their holdings of BLKB. Operose Advisors LLC bought a new position in Blackbaud in the 3rd quarter worth about $25,000. FSC Wealth Advisors LLC purchased a new position in Blackbaud during the third quarter valued at approximately $40,000. Gotham Asset Management LLC increased its holdings in Blackbaud by 8.0% during the 3rd quarter. Gotham Asset Management LLC now owns 4,248 shares of the technology company's stock worth $299,000 after acquiring an additional 316 shares during the period. Glenmede Trust Co. NA purchased a new stake in Blackbaud in the 3rd quarter worth approximately $311,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Blackbaud in the 3rd quarter valued at $352,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLKB. StockNews.com downgraded Blackbaud from a "buy" rating to a "hold" rating in a research report on Friday, April 19th. Robert W. Baird lowered their price target on Blackbaud from $95.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th.

Insider Activity at Blackbaud

In related news, CEO Michael P. Gianoni sold 5,360 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $74.05, for a total transaction of $396,908.00. Following the transaction, the chief executive officer now owns 413,114 shares of the company's stock, valued at approximately $30,591,091.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Michael P. Gianoni sold 5,360 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $74.05, for a total transaction of $396,908.00. Following the transaction, the chief executive officer now directly owns 413,114 shares in the company, valued at approximately $30,591,091.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Gianoni sold 25,354 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now directly owns 357,104 shares in the company, valued at $24,558,042.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,897 shares of company stock valued at $4,377,015. Corporate insiders own 1.89% of the company's stock.

Blackbaud Price Performance

BLKB stock traded down $0.10 during midday trading on Thursday, reaching $78.28. The company had a trading volume of 162,721 shares, compared to its average volume of 278,917. The firm has a 50-day moving average price of $72.83 and a 200-day moving average price of $76.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $4.19 billion, a P/E ratio of 2,609.33 and a beta of 1.04. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The business had revenue of $295.01 million for the quarter, compared to analysts' expectations of $299.04 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Blackbaud, Inc. will post 2.35 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.