Kevin Mcdearis Sells 2,261 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 2,261 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the sale, the executive vice president now directly owns 60,129 shares in the company, valued at $5,118,180.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Kevin Mcdearis also recently made the following trade(s):

• On Monday, September 16th, Kevin Mcdearis sold 3,210 shares of Blackbaud stock. The shares were sold at an average price of $85.16, for a total value of $273,363.60.
• On Friday, August 30th, Kevin Mcdearis sold 18,996 shares of Blackbaud stock. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00.

Blackbaud Trading Down 1.1 %

Blackbaud stock opened at $84.74 on Friday. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 206.68 and a beta of 1.02. The firm has a 50-day moving average of $79.88 and a 200-day moving average of $77.35. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56.

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

Blackbaud declared that its board has authorized a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Blackbaud

Several hedge funds and other institutional investors have recently made changes to their positions in BLKB. Vanguard Group Inc. lifted its stake in Blackbaud by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after acquiring an additional 71,619 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Blackbaud by 1.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after purchasing an additional 53,057 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Blackbaud by 12.7% during the first quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after purchasing an additional 135,103 shares during the period. Dimensional Fund Advisors LP increased its position in Blackbaud by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after buying an additional 8,761 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in Blackbaud by 1.6% in the second quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock valued at $50,076,000 after buying an additional 10,203 shares during the period. 94.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Evercore ISI upgraded shares of 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.