Anthony W. Boor Sells 10,000 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the transaction, the chief financial officer now owns 140,262 shares of the company’s stock, valued at $11,901,230.70. The trade was a 6.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $87.47 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day simple moving average of $83.65 and a two-hundred day simple moving average of $80.19. The firm has a market capitalization of $4.44 billion, a PE ratio of 85.75 and a beta of 1.03. Blackbaud, Inc. has a 52-week low of $66.47 and a 52-week high of $88.95.

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). The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current year.

Blackbaud announced that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Blackbaud by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after acquiring an additional 71,619 shares during the period. Epoch Investment Partners Inc. bought a new stake in Blackbaud during the 1st quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD raised its stake in Blackbaud by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after purchasing an additional 10,555 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Blackbaud by 7.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 100,422 shares of the technology company’s stock worth $7,445,000 after purchasing an additional 7,049 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Blackbaud by 1,107.5% in the 1st quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock worth $2,514,000 after purchasing an additional 31,100 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Raymond James reduced their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $80.00 in a report on Thursday, October 31st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, 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 report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $86.67.

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.