Blackbaud, Inc. (NASDAQ:BLKB) SVP Sells $170,000.00 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the transaction, the senior vice president now owns 24,025 shares in the company, valued at approximately $2,042,125. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Blackbaud Stock Down 1.1 %

Shares of NASDAQ:BLKB opened at $84.74 on Friday. Blackbaud, Inc. has a 52-week low of $64.32 and a 52-week high of $88.56. The stock has a market cap of $4.37 billion, a P/E ratio of 206.68 and a beta of 1.02. The business has a fifty day moving average of $79.73 and a two-hundred day moving average of $77.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Blackbaud’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Blackbaud announced that its board has approved a stock buyback plan on Tuesday, July 30th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Blackbaud

Several institutional investors have recently made changes to their positions in BLKB. Norges Bank acquired a new stake in Blackbaud during the fourth quarter worth $43,589,000. Public Employees Retirement Association of Colorado increased its position in shares of Blackbaud by 1,371.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock worth $29,486,000 after purchasing an additional 316,992 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Blackbaud in the 4th quarter valued at about $23,010,000. Geneva Capital Management LLC lifted its position in Blackbaud by 12.7% in the first quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after buying an additional 135,103 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Blackbaud by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock worth $39,573,000 after buying an additional 77,348 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st.

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.