Blackbaud (NASDAQ:BLKB) Sees Large Volume Increase

Shares of Blackbaud, Inc. (NASDAQ:BLKB) saw an uptick in trading volume on Wednesday . 537,932 shares traded hands during mid-day trading, an increase of 110% from the previous session’s volume of 256,420 shares.The stock last traded at $77.11 and had previously closed at $75.43.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BLKB. Robert W. Baird increased 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. StockNews.com upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st.

Blackbaud Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average is $77.02 and its 200-day moving average is $76.26. The company has a market capitalization of $3.97 billion, a P/E ratio of 183.98 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. Blackbaud’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Equities analysts anticipate that Blackbaud, Inc. will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, EVP David J. Benjamin sold 16,700 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total transaction of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares in the company, valued at approximately $5,793,576.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP David J. Benjamin sold 16,700 shares of Blackbaud stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $77.81, for a total value of $1,299,427.00. Following the completion of the sale, the executive vice president now directly owns 74,458 shares in the company, valued at $5,793,576.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 3,000 shares of Blackbaud stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $78.63, for a total transaction of $235,890.00. Following the completion of the sale, the senior vice president now owns 33,628 shares of the company’s stock, valued at $2,644,169.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,476 shares of company stock worth $2,547,161. 1.95% of the stock is owned by corporate insiders.

Institutional Trading of Blackbaud

Large investors have recently made changes to their positions in the stock. DT Investment Partners LLC bought a new stake in shares of Blackbaud in the second quarter worth approximately $33,000. Quest Partners LLC grew its stake in shares of Blackbaud by 2,950.0% in the second quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after acquiring an additional 413 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Blackbaud in the first quarter worth approximately $54,000. GAMMA Investing LLC bought a new stake in shares of Blackbaud in the fourth quarter worth approximately $64,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after buying an additional 552 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

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.