Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) CFO Sells 10,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares in the company, valued at $11,901,230.70. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Blackbaud Stock Up 0.6 %

Blackbaud stock traded up $0.49 during mid-day trading on Monday, hitting $87.47. The company had a trading volume of 354,879 shares, compared to its average volume of 232,959. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock’s 50 day moving average price is $83.59 and its two-hundred day moving average price is $80.12. The company has a market capitalization of $4.44 billion, a PE ratio of 86.15 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 (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. During the same period last year, the company posted $0.65 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Blackbaud declared that its Board of Directors has authorized a share buyback plan 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 plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DT Investment Partners LLC bought a new position in Blackbaud in the second quarter valued at about $33,000. Quest Partners LLC lifted its stake in shares of Blackbaud by 2,950.0% in the 2nd 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. TD Private Client Wealth LLC boosted its holdings in shares of Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after buying an additional 347 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after buying an additional 1,047 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Blackbaud during the third quarter valued at approximately $142,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BLKB. Raymond James dropped their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their target price on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research report 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.