Blackbaud, Inc. (NASDAQ:BLKB) COO Sells $567,115.92 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 6,619 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $85.68, for a total transaction of $567,115.92. Following the sale, the chief operating officer now directly owns 99,096 shares of the company’s stock, valued at $8,490,545.28. The trade was a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Blackbaud Price Performance

Shares of NASDAQ:BLKB opened at $81.00 on Friday. Blackbaud, Inc. has a twelve month low of $66.47 and a twelve month high of $88.56. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The company has a market cap of $4.11 billion, a PE ratio of 79.41 and a beta of 1.03. The company’s 50 day moving average is $83.40 and its 200 day moving average is $79.89.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud announced that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its holdings in shares of Blackbaud by 99.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,276 shares of the technology company’s stock valued at $465,000 after purchasing an additional 3,128 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Blackbaud by 23.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,956 shares of the technology company’s stock valued at $219,000 after purchasing an additional 564 shares in the last quarter. SG Americas Securities LLC acquired a new position in Blackbaud in the 1st quarter worth about $720,000. Inspire Investing LLC raised its holdings in Blackbaud by 10.1% in the 1st quarter. Inspire Investing LLC now owns 4,847 shares of the technology company’s stock worth $359,000 after purchasing an additional 444 shares during the period. Finally, US Bancorp DE boosted its position in Blackbaud by 22.6% during the first quarter. US Bancorp DE now owns 6,449 shares of the technology company’s stock worth $478,000 after purchasing an additional 1,190 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.