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

Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 3,100 shares of the firm’s 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 completion of the sale, the director now owns 23,723 shares of the company’s stock, valued at approximately $1,992,257.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Blackbaud Stock Performance

BLKB traded up $0.85 during trading on Wednesday, reaching $86.60. 300,686 shares of the company’s stock were exchanged, compared to its average volume of 231,785. 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 1 year low of $66.47 and a 1 year high of $88.56. The company’s fifty day simple moving average is $83.28 and its 200-day simple moving average is $79.79. The stock has a market capitalization of $4.39 billion, a P/E ratio of 84.67 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. As a group, research analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Blackbaud declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 18.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BLKB shares. Stifel Nicolaus boosted their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird lowered 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. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Raymond James lowered their target price 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, Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.67.

Institutional Trading of Blackbaud

A number of hedge funds have recently modified their holdings of BLKB. Quest Partners LLC lifted its holdings in Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after acquiring an additional 413 shares during the period. DT Investment Partners LLC purchased a new position in shares of Blackbaud during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in shares of Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares during the period. Meeder Asset Management Inc. purchased a new stake in Blackbaud during the third quarter worth $142,000. Finally, EntryPoint Capital LLC increased its holdings in Blackbaud by 447.8% in the first quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after buying an additional 2,078 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.