Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni Sells 800 Shares

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $83.15, for a total value of $66,520.00. Following the completion of the sale, the chief executive officer now owns 373,293 shares of the company’s stock, valued at $31,039,312.95. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Blackbaud Stock Performance

BLKB traded up $0.09 on Friday, reaching $85.46. The company had a trading volume of 40,413 shares, compared to its average volume of 231,419. The stock has a 50-day moving average price of $83.55 and a 200-day moving average price of $80.06. The stock has a market capitalization of $4.33 billion, a PE ratio of 83.70 and a beta of 1.03. Blackbaud, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56. 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 (NASDAQ:BLKB) last released its quarterly earnings results 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). The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, research analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

Blackbaud announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the technology company to buy up to 18.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on BLKB shares. Raymond James cut their price objective on 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 cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus increased their target price on 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.67.

Hedge Funds Weigh In On Blackbaud

Several institutional investors have recently added to or reduced their stakes in BLKB. DT Investment Partners LLC acquired a new stake in Blackbaud during the 2nd quarter worth approximately $33,000. Quest Partners LLC raised its stake 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 purchasing an additional 413 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. grew 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 buying an additional 1,047 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Blackbaud in the 3rd quarter valued at $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.