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 company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the sale, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Blackbaud Price Performance

Shares of BLKB opened at $86.41 on Wednesday. The company has a market capitalization of $4.38 billion, a P/E ratio of 84.72 and a beta of 1.03. Blackbaud, Inc. has a twelve month low of $66.47 and a twelve month high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a 50 day moving average of $83.65 and a 200 day moving average of $80.19.

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

Blackbaud declared that its board has initiated 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Baird R W cut shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Evercore ISI upgraded Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Raymond James cut their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.67.

Institutional Trading of Blackbaud

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Blackbaud by 2.8% during the first 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 last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Blackbaud by 1,107.5% during the 1st quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock valued at $2,514,000 after buying an additional 31,100 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Blackbaud in the 2nd quarter worth $4,262,000. Ancora Advisors LLC bought a new stake in shares of Blackbaud in the first quarter worth $2,081,000. Finally, Kestrel Investment Management Corp bought a new stake in shares of Blackbaud in the second quarter worth $4,795,000. Hedge funds and other 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.