State Treasurer State of Michigan lessened its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,300 shares of the technology company’s stock after selling 800 shares during the quarter. State Treasurer State of Michigan’s holdings in Blackbaud were worth $1,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Blackbaud during the fourth quarter valued at approximately $157,000. QS Investors LLC raised its position in Blackbaud by 157.1% during the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after acquiring an additional 1,100 shares in the last quarter. Verition Fund Management LLC bought a new position in Blackbaud during the second quarter valued at approximately $228,000. Shelton Capital Management bought a new position in Blackbaud during the third quarter valued at approximately $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Blackbaud by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,793 shares of the technology company’s stock valued at $264,000 after acquiring an additional 897 shares in the last quarter.

In other news, CFO Anthony W. Boor sold 10,954 shares of Blackbaud stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $94.42, for a total value of $1,034,276.68. Following the transaction, the chief financial officer now owns 125,224 shares of the company’s stock, valued at $11,823,650.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael P. Gianoni sold 4,225 shares of Blackbaud stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $94.79, for a total transaction of $400,487.75. Following the completion of the transaction, the insider now directly owns 256,966 shares in the company, valued at approximately $24,357,807.14. The disclosure for this sale can be found here. In the last three months, insiders sold 15,979 shares of company stock worth $1,517,924. Insiders own 2.19% of the company’s stock.

Several equities analysts recently weighed in on the stock. Dougherty & Co assumed coverage on shares of Blackbaud in a research report on Tuesday, October 31st. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Monday, October 30th. Stifel Nicolaus raised their price objective on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. B. Riley raised their price objective on shares of Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup set a $112.00 price objective on shares of Blackbaud and gave the company a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $95.33.

Blackbaud, Inc. (BLKB) opened at $97.33 on Thursday. Blackbaud, Inc. has a 52-week low of $68.61 and a 52-week high of $104.55. The company has a market cap of $4,680.00, a P/E ratio of 70.53, a PEG ratio of 4.86 and a beta of 0.75. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.63.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio is 34.78%.

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Blackbaud Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

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Institutional Ownership by Quarter for Blackbaud (NASDAQ:BLKB)

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