Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) CFO Sells $246,388.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 3,100 shares of Blackbaud stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now owns 158,268 shares in the company, valued at $12,579,140.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Blackbaud Trading Down 0.9 %

Shares of BLKB stock opened at $77.52 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.94. The stock has a 50-day simple moving average of $72.67 and a 200 day simple moving average of $76.01. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The stock has a market capitalization of $4.14 billion, a P/E ratio of 2,584.00, a P/E/G ratio of 3.43 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The company had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. During the same quarter last year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Blackbaud, Inc. will post 2.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Blackbaud by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock worth $483,316,000 after acquiring an additional 23,727 shares in the last quarter. Greenwood Capital Associates LLC increased its stake in Blackbaud by 26.6% in the 4th quarter. Greenwood Capital Associates LLC now owns 7,519 shares of the technology company’s stock worth $652,000 after purchasing an additional 1,581 shares in the last quarter. Wellington Management Group LLP increased its stake in Blackbaud by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after purchasing an additional 77,348 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Blackbaud by 13.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 140,078 shares of the technology company’s stock worth $12,145,000 after buying an additional 16,473 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Blackbaud by 11.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,317 shares of the technology company’s stock valued at $3,495,000 after buying an additional 4,156 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Robert W. Baird cut their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th.

About Blackbaud

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.