Public Employees Retirement Association of Colorado Sells 2,288 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Public Employees Retirement Association of Colorado lowered its stake in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 337,810 shares of the technology company’s stock after selling 2,288 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.65% of Blackbaud worth $25,045,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in Blackbaud in the first quarter valued at about $54,000. GAMMA Investing LLC purchased a new position in Blackbaud in the fourth quarter valued at about $64,000. Parallel Advisors LLC boosted its stake in Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares during the last quarter. AXS Investments LLC purchased a new position in Blackbaud in the fourth quarter valued at about $181,000. Finally, EntryPoint Capital LLC lifted its stake in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after buying an additional 2,078 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Insiders Place Their Bets

In other Blackbaud news, CFO Anthony W. Boor sold 1,106 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $78.86, for a total value of $87,219.16. Following the sale, the chief financial officer now directly owns 150,262 shares in the company, valued at approximately $11,849,661.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Anthony W. Boor sold 1,106 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $78.86, for a total value of $87,219.16. Following the completion of the transaction, the chief financial officer now directly owns 150,262 shares in the company, valued at $11,849,661.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jon W. Olson sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.63, for a total value of $235,890.00. Following the sale, the senior vice president now owns 33,628 shares in the company, valued at approximately $2,644,169.64. The disclosure for this sale can be found here. Insiders have sold 32,476 shares of company stock worth $2,547,161 in the last three months. 1.95% of the stock is currently owned by corporate insiders.

Blackbaud Stock Performance

Shares of BLKB stock traded down $0.09 during trading on Monday, reaching $79.89. 66,908 shares of the company’s stock traded hands, compared to its average volume of 251,196. The company has a market capitalization of $4.12 billion, a P/E ratio of 195.08 and a beta of 1.01. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.91. The firm’s 50-day moving average is $77.23 and its 200 day moving average is $76.46. Blackbaud, Inc. has a 1 year low of $64.32 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Blackbaud had a net margin of 1.94% and a return on equity of 16.66%. The company had revenue of $279.25 million for the quarter, compared to analysts’ expectations of $282.22 million. Equities research analysts expect that Blackbaud, Inc. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

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.