Kevin P. Gregoire Sells 6,619 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

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

Blackbaud Stock Down 0.7 %

NASDAQ BLKB traded down $0.57 on Friday, hitting $83.43. 12,163 shares of the company were exchanged, compared to its average volume of 230,990. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 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 $4.23 billion, a PE ratio of 82.35 and a beta of 1.03. The stock has a fifty day moving average of $83.41 and a 200-day moving average of $79.88.

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

Blackbaud announced that its board has initiated a stock repurchase plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

BLKB has been the subject of a number of recent analyst reports. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James dropped their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Finally, Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.67.

Institutional Trading of Blackbaud

Hedge funds and other institutional investors have recently bought and sold shares of the business. ArrowMark Colorado Holdings LLC increased its holdings in Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after purchasing an additional 235,859 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Blackbaud by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after buying an additional 71,619 shares during the period. Simcoe Capital Management LLC purchased a new position in Blackbaud during the 3rd quarter valued at about $5,987,000. Kestrel Investment Management Corp purchased a new stake in Blackbaud in the 2nd quarter worth approximately $4,795,000. Finally, Millennium Management LLC raised its position in shares of Blackbaud by 2,240.8% in the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after buying an additional 60,702 shares in the last quarter. Institutional investors 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.