Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) COO Sells 5,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $84.00, for a total value of $420,000.00. Following the transaction, the chief operating officer now owns 105,715 shares of the company’s stock, valued at $8,880,060. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Blackbaud Stock Up 0.4 %

Shares of BLKB traded up $0.30 during mid-day trading on Wednesday, hitting $82.16. 98,687 shares of the company’s stock were exchanged, compared to its average volume of 246,392. The stock’s 50-day moving average is $78.13 and its 200-day moving average is $76.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 200.39 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. On average, sell-side analysts anticipate that Blackbaud, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BLKB shares. Robert W. Baird lifted their price target on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Blackbaud in the 4th quarter valued at about $43,589,000. Public Employees Retirement Association of Colorado lifted its stake in Blackbaud by 1,371.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after acquiring an additional 316,992 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Blackbaud during the 4th quarter worth approximately $23,010,000. Geneva Capital Management LLC increased its position in shares of Blackbaud by 12.7% in the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after purchasing an additional 135,103 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Blackbaud by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after purchasing an additional 77,348 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.

Blackbaud Company 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.