Blackbaud (NASDAQ:BLKB) Sees Unusually-High Trading Volume – Still a Buy?

Blackbaud, Inc. (NASDAQ:BLKB) saw unusually-high trading volume on Wednesday . Approximately 206,437 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 145,931 shares.The stock last traded at $77.49 and had previously closed at $78.36.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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 report on Monday, October 7th. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Finally, Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Blackbaud Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $3.82 billion, a P/E ratio of 76.00 and a beta of 1.08. The firm has a 50-day simple moving average of $79.08 and a 200 day simple moving average of $80.36.

Blackbaud (NASDAQ:BLKB) last announced 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 analyst estimates of $293.74 million. During the same period last year, the business posted $0.65 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current year.

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total value of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares in the company, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the transaction, the director now directly owns 23,723 shares of the company’s stock, valued at approximately $1,992,257.54. This trade represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,923 shares of company stock worth $3,737,450 over the last ninety days. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

Several large investors have recently modified their holdings of BLKB. ArrowMark Colorado Holdings LLC grew its stake in shares of Blackbaud by 22.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock valued at $108,684,000 after buying an additional 235,859 shares during the last quarter. Wellington Management Group LLP grew its position in Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after purchasing an additional 154,019 shares during the period. Simcoe Capital Management LLC acquired a new stake in Blackbaud during the 3rd quarter worth about $5,987,000. Millennium Management LLC lifted its stake in Blackbaud by 2,240.8% in the 2nd quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock valued at $4,830,000 after buying an additional 60,702 shares in the last quarter. Finally, State Street Corp lifted its stake in Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after purchasing an additional 56,090 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

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.