Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni Sells 12,325 Shares

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total value of $1,026,056.25. Following the transaction, the chief executive officer now owns 389,539 shares in the company, valued at $32,429,121.75. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB traded up $0.21 on Friday, hitting $85.58. 28,567 shares of the company were exchanged, compared to its average volume of 231,367. 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 $83.55 and its 200 day moving average price is $80.06. Blackbaud, Inc. has a 1-year low of $66.47 and a 1-year high of $88.56. The firm has a market capitalization of $4.34 billion, a P/E ratio of 83.70 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm’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 firm posted $0.65 EPS. Sell-side analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current year.

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

Wall Street Analyst Weigh In

BLKB has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Raymond James cut their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their price target on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Blackbaud currently has an average rating of “Hold” and an average price target of $86.67.

Institutional Investors Weigh In On Blackbaud

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Blackbaud by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after purchasing an additional 71,619 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Blackbaud by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock worth $210,599,000 after purchasing an additional 53,057 shares during the last quarter. State Street Corp raised its stake in shares of Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after acquiring an additional 56,090 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after purchasing an additional 235,859 shares during the period. Finally, Geneva Capital Management LLC boosted its position in shares of Blackbaud by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after purchasing an additional 4,122 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.