Kevin Mcdearis Sells 18,996 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 18,996 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00. Following the sale, the executive vice president now directly owns 67,012 shares of the company’s stock, valued at approximately $5,561,996. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Blackbaud Stock Down 0.5 %

BLKB opened at $81.47 on Friday. Blackbaud, Inc. has a fifty-two week low of $64.32 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $4.21 billion, a P/E ratio of 198.71 and a beta of 1.01. The stock has a fifty day moving average of $78.35 and a 200-day moving average of $76.28.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quest Partners LLC lifted its position in Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after purchasing an additional 413 shares during the period. DT Investment Partners LLC acquired a new position in shares of Blackbaud in the 2nd quarter valued at approximately $33,000. YHB Investment Advisors Inc. bought a new stake in shares of Blackbaud during the 1st quarter worth approximately $54,000. Parallel Advisors LLC increased its stake in Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock valued at $64,000 after acquiring an additional 552 shares during the last quarter. Finally, AXS Investments LLC acquired a new position in Blackbaud during the fourth quarter valued at approximately $181,000. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

BLKB has been the subject of several research reports. Robert W. Baird raised their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st.

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.