Blackbaud (NASDAQ:BLKB) Director Sells $966,600.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) Director Andrew Leitch sold 18,000 shares of Blackbaud stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $53.70, for a total value of $966,600.00. Following the completion of the sale, the director directly owned 30,035 shares in the company, valued at approximately $1,612,879.50. This represents a 37.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Blackbaud Trading Down 1.5%

NASDAQ BLKB opened at $53.56 on Friday. Blackbaud, Inc. has a 52 week low of $25.58 and a 52 week high of $64.84. The company has a debt-to-equity ratio of 8.55, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50 day moving average price is $48.42 and its two-hundred day moving average price is $41.39. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.85 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.03. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. The company had revenue of $292.64 million during the quarter, compared to analysts’ expectations of $293.93 million. During the same period last year, the business earned $1.10 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that Blackbaud, Inc. will post 3.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on BLKB shares. Raymond James Financial restated an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Finally, Robert W. Baird set a $68.00 price target on shares of Blackbaud in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Blackbaud has a consensus rating of “Hold” and an average price target of $52.00.

Institutional Investors Weigh In On Blackbaud

A number of institutional investors and hedge funds have recently made changes to their positions in BLKB. Public Sector Pension Investment Board raised its stake in Blackbaud by 43.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 173,652 shares of the technology company’s stock valued at $7,227,000 after acquiring an additional 52,320 shares during the period. Global Retirement Partners LLC boosted its position in Blackbaud by 52.6% during the third quarter. Global Retirement Partners LLC now owns 850 shares of the technology company’s stock worth $35,000 after purchasing an additional 293 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Blackbaud in the third quarter valued at $2,499,000. Intech Investment Management LLC increased its holdings in shares of Blackbaud by 496.0% in the third quarter. Intech Investment Management LLC now owns 54,035 shares of the technology company’s stock valued at $2,249,000 after purchasing an additional 44,968 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Blackbaud by 80.2% in the third quarter. Hantz Financial Services Inc. now owns 5,071 shares of the technology company’s stock valued at $211,000 after purchasing an additional 2,257 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.