Teachers Retirement System of The State of Kentucky Sells 17,665 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,671 shares of the technology company's stock after selling 17,665 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.08% of Blackbaud worth $2,858,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Xponance Inc. grew its position in shares of Blackbaud by 2.4% in the 4th quarter. Xponance Inc. now owns 5,638 shares of the technology company's stock valued at $417,000 after acquiring an additional 130 shares during the period. Heritage Family Offices LLP grew its position in Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock valued at $221,000 after acquiring an additional 166 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Blackbaud by 13.9% during the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company's stock valued at $138,000 after acquiring an additional 227 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Blackbaud by 3.7% during the fourth quarter. Brookstone Capital Management now owns 7,612 shares of the technology company's stock valued at $563,000 after purchasing an additional 275 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Blackbaud by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,930 shares of the technology company's stock valued at $143,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

Blackbaud Stock Performance

Shares of BLKB stock traded down $1.56 on Wednesday, hitting $62.51. 94,098 shares of the stock were exchanged, compared to its average volume of 293,846. The firm has a market capitalization of $3.03 billion, a PE ratio of -10.59 and a beta of 1.04. Blackbaud, Inc. has a one year low of $58.05 and a one year high of $88.95. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The firm's 50 day moving average is $63.37 and its two-hundred day moving average is $73.97.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.50). The business had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Sell-side analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Blackbaud has a consensus rating of "Hold" and a consensus target price of $85.33.

Blackbaud Company 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.