Blackbaud, Inc. (NASDAQ:BLKB) Director Sells $260,338.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the sale, the director now owns 23,723 shares in the company, valued at $1,992,257.54. This represents a 11.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Blackbaud Stock Performance

Blackbaud stock opened at $81.00 on Friday. The company has a market cap of $4.11 billion, a PE ratio of 79.41 and a beta of 1.03. The company has a fifty day moving average price of $83.40 and a two-hundred day moving average price of $79.89. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. Blackbaud’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Research analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud announced that its board has initiated a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 18.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Blackbaud

Institutional investors and hedge funds have recently bought and sold shares of the stock. DT Investment Partners LLC acquired a new stake in Blackbaud during the 2nd quarter worth about $33,000. Quest Partners LLC grew its stake in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. grew its stake in Blackbaud by 190.4% during the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Blackbaud during the 3rd quarter valued at about $142,000. Finally, EntryPoint Capital LLC grew its stake in Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after acquiring an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BLKB. Stifel Nicolaus lifted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Raymond James dropped their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $86.67.

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.