Blackbaud, Inc. (NASDAQ:BLKB) CEO Sells $1,026,056.25 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the transaction, the chief executive officer now directly owns 389,539 shares in the company, valued at $32,429,121.75. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $86.98 on Friday. The company has a market capitalization of $4.41 billion, a P/E ratio of 85.28 and a beta of 1.03. The business has a fifty day simple moving average of $83.59 and a two-hundred day simple moving average of $80.11. 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, Inc. has a 1 year low of $66.47 and a 1 year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million during 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 revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. On average, analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 18.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Blackbaud

Institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC grew its stake in Blackbaud by 42.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock valued at $99,000 after buying an additional 347 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock valued at $4,770,000 after purchasing an additional 19,270 shares in the last quarter. M&T Bank Corp grew its position in shares of Blackbaud by 85.2% in the third quarter. M&T Bank Corp now owns 25,193 shares of the technology company’s stock valued at $2,133,000 after purchasing an additional 11,591 shares in the last quarter. Barclays PLC raised its stake in shares of Blackbaud by 170.4% during the 3rd quarter. Barclays PLC now owns 80,557 shares of the technology company’s stock valued at $6,821,000 after purchasing an additional 50,765 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Blackbaud during the 3rd quarter worth about $573,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on BLKB shares. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird lowered Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th. Finally, 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. Four research 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 a consensus rating of “Hold” and a consensus target price of $86.67.

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.