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 company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.98, for a total value of $260,338.00. Following the sale, the director now directly owns 23,723 shares of the company’s stock, valued at $1,992,257.54. The trade was a 11.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $81.00 on Friday. The business has a fifty day simple moving average of $83.40 and a 200 day simple moving average of $79.89. 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 firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 79.41 and a beta of 1.03. Blackbaud, Inc. has a one year low of $66.47 and a one year high of $88.56.

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

Blackbaud declared that its board has initiated a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System grew its holdings in shares of Blackbaud by 1.2% during the second quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after purchasing an additional 137 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Blackbaud by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after buying an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Blackbaud by 6.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after buying an additional 184 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in Blackbaud by 2.1% in the second quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock valued at $850,000 after buying an additional 225 shares during the period. Finally, Inspire Investing LLC lifted its stake in Blackbaud by 6.4% in the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after buying an additional 292 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLKB. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Raymond James cut their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI upgraded Blackbaud to a “hold” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.