Blackbaud (NASDAQ:BLKB) Shares Gap Down – Time to Sell?

Blackbaud, Inc. (NASDAQ:BLKB)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $87.48, but opened at $75.42. Blackbaud shares last traded at $76.62, with a volume of 6,903 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BLKB shares. Robert W. Baird increased their target price on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James cut their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Blackbaud Stock Down 13.3 %

The firm’s 50-day moving average is $83.56 and its two-hundred day moving average is $79.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $3.91 billion, a P/E ratio of 186.88 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, equities research analysts anticipate that Blackbaud, Inc. will post 2.45 earnings per share for the current year.

Blackbaud announced that its Board of Directors has approved a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Blackbaud

In other news, EVP Kevin Mcdearis sold 3,210 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $85.16, for a total value of $273,363.60. Following the completion of the transaction, the executive vice president now owns 63,802 shares of the company’s stock, valued at $5,433,378.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP David J. Benjamin sold 5,590 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $78.04, for a total value of $436,243.60. Following the sale, the executive vice president now owns 51,108 shares of the company’s stock, valued at $3,988,468.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Mcdearis sold 3,210 shares of Blackbaud stock in a transaction on Monday, September 16th. The shares were sold at an average price of $85.16, for a total transaction of $273,363.60. Following the completion of the sale, the executive vice president now owns 63,802 shares in the company, valued at $5,433,378.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,409 shares of company stock worth $4,483,193. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Blackbaud by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock worth $418,609,000 after buying an additional 71,619 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Blackbaud by 1.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after purchasing an additional 53,057 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Blackbaud by 12.7% during the first quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock worth $88,663,000 after purchasing an additional 135,103 shares during the period. Dimensional Fund Advisors LP increased its position in Blackbaud by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after buying an additional 8,761 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in Blackbaud by 1.6% in the second quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock valued at $50,076,000 after buying an additional 10,203 shares during the period. 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.