Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor Sells 10,000 Shares

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the sale, the chief financial officer now directly owns 140,262 shares of the company’s stock, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Blackbaud Price Performance

NASDAQ:BLKB opened at $86.41 on Wednesday. The company has a market capitalization of $4.38 billion, a P/E ratio of 84.72 and a beta of 1.03. The business’s 50-day moving average is $83.65 and its 200 day moving average is $80.19. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.95.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data 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 return on equity of 20.34% and a net margin of 4.61%. 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 business earned $0.65 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Blackbaud announced that its Board of Directors has initiated a share repurchase 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 purchase up to 18.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Blackbaud

Several institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its position in shares of Blackbaud by 42.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after purchasing an additional 347 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Blackbaud by 52.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after buying an additional 19,270 shares during the period. M&T Bank Corp boosted its stake in Blackbaud by 85.2% during the third quarter. M&T Bank Corp now owns 25,193 shares of the technology company’s stock worth $2,133,000 after buying an additional 11,591 shares during the period. Barclays PLC increased its position in Blackbaud by 170.4% during the third quarter. Barclays PLC now owns 80,557 shares of the technology company’s stock valued at $6,821,000 after acquiring an additional 50,765 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Blackbaud in the third quarter valued at $573,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLKB. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on 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 Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Finally, Raymond James decreased their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Blackbaud has a consensus rating of “Hold” and a consensus price target of $86.67.

About Blackbaud

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.