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 stock in a transaction dated 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 transaction, the chief operating officer now directly owns 99,096 shares of the company’s stock, valued at $8,490,545.28. This trade represents a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Blackbaud Trading Down 3.0 %

Shares of BLKB traded down $2.60 during trading hours on Thursday, hitting $84.00. 275,150 shares of the stock were exchanged, compared to its average volume of 231,981. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.56. The business has a 50-day moving average of $83.36 and a 200-day moving average of $79.85. The firm has a market capitalization of $4.26 billion, a P/E ratio of 82.96 and a beta of 1.03. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB) last announced 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 net margin of 4.61% and a return on equity of 20.34%. The business had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud declared that its board has initiated a share 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 buy up to 18.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BLKB shares. Stifel Nicolaus increased their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Raymond James dropped their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Robert W. Baird cut 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 report on Thursday, October 31st. 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 company has an average rating of “Hold” and a consensus target price of $86.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Blackbaud by 1.2% in the second quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock worth $912,000 after purchasing an additional 137 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Blackbaud by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock valued at $2,045,000 after acquiring an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Blackbaud by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock valued at $239,000 after buying an additional 184 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in Blackbaud by 2.1% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock worth $850,000 after acquiring an additional 225 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Blackbaud by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock valued at $413,000 after acquiring an additional 292 shares during the period. 94.21% of the stock is owned by institutional investors.

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.