Sarah E. Nash Sells 3,100 Shares of Blackbaud, Inc. (NASDAQ:BLKB) 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 transaction of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares in the company, valued at approximately $1,992,257.54. This represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Blackbaud Price Performance

Blackbaud stock opened at $84.00 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 82.35 and a beta of 1.03. The firm has a 50 day moving average price of $83.41 and a 200 day moving average price of $79.88. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.08). The company 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 business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Sell-side analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud declared that its board has approved a share buyback 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 often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLKB. DT Investment Partners LLC acquired a new position in Blackbaud in the second quarter valued at approximately $33,000. Quest Partners LLC increased its holdings in shares of Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after buying an additional 413 shares in the last quarter. Blue Trust Inc. lifted its stake in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after buying an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud in the third quarter valued at $142,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Blackbaud by 447.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after purchasing an additional 2,078 shares during the period. 94.21% of the stock is 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.