Sarah E. Nash Sells 1,600 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 1,600 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.46, for a total transaction of $133,536.00. Following the completion of the sale, the director now directly owns 22,123 shares in the company, valued at $1,846,385.58. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Blackbaud Stock Up 1.9 %

BLKB 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. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.56. The firm’s 50-day simple moving average is $83.59 and its 200 day simple moving average is $80.11. The stock has a market cap of $4.41 billion, a PE ratio of 85.28 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share 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 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 earned $0.65 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud declared that its board has approved a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BLKB shares. Stifel Nicolaus raised 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. Raymond James reduced their price target 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. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price target for the stock 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Blackbaud presently has an average rating of “Hold” and a consensus price target of $86.67.

Hedge Funds Weigh In On Blackbaud

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