Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) EVP Sells $436,243.60 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP David J. Benjamin sold 5,590 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $78.04, for a total transaction of $436,243.60. Following the transaction, the executive vice president now owns 51,108 shares of the company’s stock, valued at approximately $3,988,468.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Blackbaud Stock Up 2.4 %

Shares of NASDAQ BLKB opened at $79.30 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.67 and a current ratio of 0.80. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The company’s 50 day moving average price is $76.84 and its 200-day moving average price is $75.83. The company has a market capitalization of $4.09 billion, a P/E ratio of 193.41 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. During the same quarter in the previous year, the company earned $0.49 EPS. Blackbaud’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that Blackbaud, Inc. will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BLKB. Raymond James & Associates acquired a new position in shares of Blackbaud during the 4th quarter valued at $562,000. Louisiana State Employees Retirement System acquired a new position in Blackbaud during the fourth quarter worth $1,049,000. Mackenzie Financial Corp raised its holdings in Blackbaud by 27.9% during the fourth quarter. Mackenzie Financial Corp now owns 24,139 shares of the technology company’s stock worth $2,093,000 after buying an additional 5,260 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Blackbaud by 3.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,192 shares of the technology company’s stock worth $797,000 after buying an additional 277 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Blackbaud by 30.4% during the fourth quarter. Handelsbanken Fonder AB now owns 7,730 shares of the technology company’s stock worth $670,000 after buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

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.