Blackbaud, Inc. (NASDAQ:BLKB) CEO Sells $1,026,056.25 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 12,325 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total value of $1,026,056.25. Following the completion of the sale, the chief executive officer now owns 389,539 shares of the company’s stock, valued at $32,429,121.75. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Blackbaud Stock Up 1.9 %

Blackbaud stock opened at $86.98 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $4.41 billion, a PE ratio of 85.28 and a beta of 1.03. The firm’s fifty day moving average is $83.59 and its 200 day moving average is $80.11. Blackbaud, Inc. has a 12-month low of $66.47 and a 12-month high of $88.56.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data 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). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. During the same period last year, the company earned $0.65 EPS. Blackbaud’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Blackbaud announced that its board has approved a stock buyback plan on Tuesday, July 30th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to buy up to 18.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently modified their holdings of the company. DT Investment Partners LLC bought a new stake in Blackbaud during the 2nd quarter valued at $33,000. Quest Partners LLC increased its position in shares of Blackbaud by 2,950.0% during the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after acquiring an additional 413 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after acquiring an additional 347 shares during the last quarter. Blue Trust Inc. lifted its position in Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Blackbaud during the 3rd quarter valued at about $142,000. 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.