Texas Permanent School Fund Acquires 1,195 Shares of Blackbaud, Inc. (BLKB)

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Texas Permanent School Fund raised its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,978 shares of the technology company’s stock after purchasing an additional 1,195 shares during the period. Texas Permanent School Fund’s holdings in Blackbaud were worth $2,629,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BLKB. Rhumbline Advisers lifted its stake in Blackbaud by 0.8% during the first quarter. Rhumbline Advisers now owns 151,264 shares of the technology company’s stock valued at $12,060,000 after buying an additional 1,214 shares in the last quarter. Menta Capital LLC purchased a new stake in Blackbaud during the first quarter valued at about $464,000. Janus Henderson Group PLC lifted its stake in Blackbaud by 21.6% during the first quarter. Janus Henderson Group PLC now owns 4,782,583 shares of the technology company’s stock valued at $381,310,000 after buying an additional 849,217 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in Blackbaud during the first quarter valued at about $225,000. Finally, Smithfield Trust Co. lifted its stake in Blackbaud by 2,407.5% during the first quarter. Smithfield Trust Co. now owns 1,003 shares of the technology company’s stock valued at $80,000 after buying an additional 963 shares in the last quarter.

A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Blackbaud from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Stephens downgraded Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price objective on the stock. in a report on Wednesday, April 3rd. Finally, DA Davidson increased their price objective on Blackbaud to $75.00 and gave the stock a “neutral” rating in a report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $88.14.

In related news, CFO Anthony W. Boor sold 9,606 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $77.82, for a total value of $747,538.92. Following the completion of the transaction, the chief financial officer now directly owns 92,016 shares of the company’s stock, valued at $7,160,685.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Gianoni sold 30,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $76.35, for a total value of $2,290,500.00. Following the completion of the transaction, the insider now directly owns 276,614 shares of the company’s stock, valued at $21,119,478.90. The disclosure for this sale can be found here. Insiders sold 49,606 shares of company stock valued at $3,808,739 over the last three months. 1.55% of the stock is owned by company insiders.

NASDAQ:BLKB traded up $0.13 during mid-day trading on Friday, reaching $81.07. The stock had a trading volume of 711 shares, compared to its average volume of 295,815. Blackbaud, Inc. has a fifty-two week low of $58.23 and a fifty-two week high of $120.35. The company has a market capitalization of $3.88 billion, a P/E ratio of 42.95, a P/E/G ratio of 7.37 and a beta of 1.27. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 0.69.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The company had revenue of $215.83 million for the quarter, compared to the consensus estimate of $212.32 million. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Blackbaud, Inc. will post 1.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be given a $0.12 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. Blackbaud’s dividend payout ratio is 25.67%.

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About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

See Also: Green Investing

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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