Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash Sells 3,100 Shares

Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the completion of the sale, the director now directly owns 23,723 shares in the company, valued at approximately $1,992,257.54. 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 is available through this link.

Blackbaud Price Performance

Shares of Blackbaud stock traded up $0.85 during trading hours on Wednesday, reaching $86.60. 300,686 shares of the company’s stock were exchanged, compared to its average volume of 231,785. The business has a fifty day moving average of $83.28 and a two-hundred day moving average of $79.79. The company has a market capitalization of $4.39 billion, a P/E ratio of 84.67 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. 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 (EPS) 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 business had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Blackbaud

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Blackbaud by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after buying an additional 71,619 shares in the last quarter. Kestrel Investment Management Corp purchased a new stake in shares of Blackbaud in the second quarter valued at about $4,795,000. Millennium Management LLC increased its position in Blackbaud by 2,240.8% during the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after purchasing an additional 60,702 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Blackbaud during the second quarter worth about $4,262,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Blackbaud by 20.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company’s stock valued at $27,103,000 after purchasing an additional 54,138 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BLKB. Raymond James dropped 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. Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Blackbaud currently has a consensus rating of “Hold” and an average 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.