Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) SVP Sells $170,000.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the transaction, the senior vice president now owns 24,025 shares in the company, valued at approximately $2,042,125. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Blackbaud Trading Down 1.1 %

Blackbaud stock opened at $84.74 on Friday. The firm has a market cap of $4.37 billion, a PE ratio of 206.68 and a beta of 1.02. Blackbaud, Inc. has a 12 month low of $64.32 and a 12 month high of $88.56. The stock’s 50 day simple moving average is $79.73 and its two-hundred day simple moving average is $77.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts anticipate that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Blackbaud declared that its board has authorized a share repurchase program on Tuesday, July 30th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Blackbaud

A number of large investors have recently bought and sold shares of BLKB. SG Americas Securities LLC acquired a new position in shares of Blackbaud during the 1st quarter worth approximately $720,000. Price T Rowe Associates Inc. MD grew its position in shares of Blackbaud by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after purchasing an additional 10,555 shares during the period. Campbell & CO Investment Adviser LLC grew its position in shares of Blackbaud by 217.7% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,935 shares of the technology company’s stock valued at $2,162,000 after purchasing an additional 17,086 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Blackbaud by 5.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock worth $19,633,000 after purchasing an additional 12,881 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Blackbaud during the 4th quarter worth about $43,589,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BLKB shares. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird increased their price target on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

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.