Jon W. Olson Sells 3,603 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson sold 3,603 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $77.90, for a total transaction of $280,673.70. Following the transaction, the senior vice president now directly owns 26,025 shares of the company’s stock, valued at $2,027,347.50. The sale was disclosed in a document filed with the SEC, which is available through this link.

Blackbaud Trading Up 0.6 %

NASDAQ BLKB traded up $0.48 during mid-day trading on Monday, reaching $78.58. 95,730 shares of the stock were exchanged, compared to its average volume of 249,958. Blackbaud, Inc. has a 1-year low of $64.32 and a 1-year high of $88.56. The business’s fifty day simple moving average is $76.77 and its 200 day simple moving average is $75.88. The stock has a market capitalization of $4.06 billion, a PE ratio of 191.66 and a beta of 1.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.67 and a current ratio of 0.80.

Blackbaud (NASDAQ:BLKB) last announced 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. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same quarter last year, the business earned $0.49 earnings per share. Blackbaud’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that Blackbaud, Inc. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLKB has been the subject of a number of recent research reports. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st.

Hedge Funds Weigh In On Blackbaud

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Blackbaud by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock valued at $912,000 after purchasing an additional 137 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Blackbaud by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 53,958 shares of the technology company’s stock valued at $4,678,000 after purchasing an additional 163 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Blackbaud by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 12,840 shares of the technology company’s stock valued at $1,113,000 after purchasing an additional 183 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after purchasing an additional 184 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Blackbaud by 0.9% in the 4th quarter. Comerica Bank now owns 20,671 shares of the technology company’s stock valued at $1,792,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds 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.