Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) CFO Sells 10,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 10,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at approximately $11,901,230.70. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Blackbaud Stock Performance

Shares of BLKB stock opened at $84.23 on Thursday. The stock has a market capitalization of $4.27 billion, a PE ratio of 82.58 and a beta of 1.03. The business’s 50 day simple moving average is $83.70 and its 200 day simple moving average is $80.26. 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 one year low of $66.47 and a one year high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted 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 net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

BLKB has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Raymond James dropped their price target 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $86.67.

Institutional Trading of Blackbaud

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Blackbaud by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after acquiring an additional 10,555 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in Blackbaud by 1,107.5% in the first quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock worth $2,514,000 after purchasing an additional 31,100 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Blackbaud in the second quarter valued at approximately $4,262,000. Ancora Advisors LLC bought a new position in shares of Blackbaud during the 1st quarter worth approximately $2,081,000. Finally, Kestrel Investment Management Corp acquired a new stake in shares of Blackbaud during the 2nd quarter worth approximately $4,795,000. Institutional investors own 94.21% of the company’s stock.

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.