Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire Sells 6,619 Shares

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 6,619 shares of the business’s 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 sale, the chief operating officer now directly owns 99,096 shares of the company’s stock, valued at $8,490,545.28. This represents a 6.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Blackbaud Stock Performance

NASDAQ BLKB opened at $81.00 on Friday. 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’s fifty day moving average is $83.40 and its two-hundred day moving average is $79.89. The firm has a market capitalization of $4.11 billion, a P/E ratio of 79.41 and a beta of 1.03. Blackbaud, Inc. has a fifty-two week low of $66.47 and a fifty-two week high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results 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). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period in the previous year, the firm posted $0.65 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Blackbaud, Inc. will post 2.6 earnings per share 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 buyback $800.00 million in shares. This buyback authorization permits the technology company to reacquire up to 18.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Blackbaud

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Blackbaud during the first quarter worth $720,000. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $28,768,000 after buying an additional 10,555 shares during the period. Clearbridge Investments LLC increased its position in shares of Blackbaud by 20.0% during the first quarter. Clearbridge Investments LLC now owns 318,506 shares of the technology company’s stock valued at $23,614,000 after acquiring an additional 53,110 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Blackbaud by 1,107.5% during the first quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 31,100 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $4,262,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Evercore ISI upgraded Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased 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. Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Raymond James decreased their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.