Blackbaud, Inc. (NASDAQ:BLKB) CEO Sells $66,520.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKBGet Free Report) CEO Michael P. Gianoni sold 800 shares of Blackbaud stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.15, for a total value of $66,520.00. Following the sale, the chief executive officer now directly owns 373,293 shares of the company’s stock, valued at $31,039,312.95. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $86.98 on Friday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 85.28 and a beta of 1.03. The firm’s fifty day simple moving average is $83.59 and its 200-day simple moving average is $80.11. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.56.

Blackbaud (NASDAQ:BLKBGet Free Report) last announced 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). 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 analysts’ expectations of $293.74 million. During the same period in the previous year, the company posted $0.65 earnings per share. Blackbaud’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud announced that its board has authorized a share 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 purchase up to 18.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Blackbaud by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after purchasing an additional 10,555 shares during the period. Clearbridge Investments LLC increased its stake in shares of Blackbaud by 20.0% during the first quarter. Clearbridge Investments LLC now owns 318,506 shares of the technology company’s stock worth $23,614,000 after acquiring an additional 53,110 shares during the period. Kennedy Capital Management LLC increased its stake in shares of Blackbaud by 1,107.5% during the first quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock worth $2,514,000 after acquiring an additional 31,100 shares during the period. Great Lakes Advisors LLC purchased a new position in Blackbaud during the second quarter worth about $4,262,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Blackbaud by 125.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,240 shares of the technology company’s stock valued at $4,170,000 after purchasing an additional 31,240 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. 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 research note on Thursday, September 26th. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Finally, Raymond James decreased their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Four 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, the company has a consensus rating of “Hold” and a consensus target price of $86.67.

Check Out Our Latest Stock Report on BLKB

Blackbaud Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Blackbaud (NASDAQ:BLKB)

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