Public Employees Retirement System of Ohio Acquires 7,049 Shares of Blackbaud, Inc. (NASDAQ:BLKB)

Public Employees Retirement System of Ohio boosted its holdings in Blackbaud, Inc. (NASDAQ:BLKB) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,422 shares of the technology company’s stock after purchasing an additional 7,049 shares during the period. Public Employees Retirement System of Ohio owned about 0.19% of Blackbaud worth $7,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLKB. Price T Rowe Associates Inc. MD grew its holdings in shares of Blackbaud by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after acquiring an additional 10,555 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in Blackbaud in the first quarter valued at approximately $884,000. EntryPoint Capital LLC increased its position 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 worth $188,000 after purchasing an additional 2,078 shares during the last quarter. Pitcairn Co. raised its stake in shares of Blackbaud by 10.9% during the 1st quarter. Pitcairn Co. now owns 6,344 shares of the technology company’s stock worth $470,000 after purchasing an additional 621 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Blackbaud by 125.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,240 shares of the technology company’s stock valued at $4,170,000 after buying an additional 31,240 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Blackbaud Stock Performance

BLKB stock traded up $0.22 during midday trading on Tuesday, reaching $80.23. 6,856 shares of the company were exchanged, compared to its average volume of 250,151. The business has a 50-day moving average price of $77.24 and a two-hundred day moving average price of $76.44. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 195.15 and a beta of 1.01. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56.

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

Insider Activity at Blackbaud

In related news, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $77.50, for a total value of $137,020.00. Following the sale, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Kevin P. Gregoire sold 9,902 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $79.54, for a total value of $787,605.08. Following the sale, the chief operating officer now owns 118,739 shares of the company’s stock, valued at $9,444,500.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David J. Benjamin sold 1,768 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $77.50, for a total value of $137,020.00. Following the transaction, the executive vice president now directly owns 57,739 shares of the company’s stock, valued at $4,474,772.50. The disclosure for this sale can be found here. Insiders sold a total of 32,476 shares of company stock valued at $2,547,161 over the last quarter. 1.95% of the stock is owned by corporate insiders.

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.