Blackbaud (NASDAQ:BLKB) Director Sells 18,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) Director Andrew Leitch sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $53.70, for a total transaction of $966,600.00. Following the transaction, the director directly owned 30,035 shares in the company, valued at $1,612,879.50. This represents a 37.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Blackbaud Price Performance

Shares of NASDAQ BLKB traded up $0.34 during midday trading on Tuesday, reaching $54.92. The company’s stock had a trading volume of 242,967 shares, compared to its average volume of 594,305. The company has a debt-to-equity ratio of 8.55, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $64.84. The business’s 50 day moving average price is $48.03 and its two-hundred day moving average price is $41.42. The company has a market cap of $2.47 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.90 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $292.64 million for the quarter, compared to the consensus estimate of $293.93 million. Blackbaud had a return on equity of 209.40% and a net margin of 12.87%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 earnings per share. On average, analysts forecast that Blackbaud, Inc. will post 3.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and set a $55.00 target price on shares of Blackbaud in a report on Wednesday, July 29th. Robert W. Baird set a $68.00 price target on Blackbaud in a research note on Thursday, October 29th. Finally, Weiss Ratings raised shares of Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Blackbaud has a consensus rating of “Hold” and a consensus target price of $52.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Palisade Capital Management LP bought a new position in Blackbaud in the 2nd quarter valued at approximately $6,171,000. Wedge Capital Management L L P NC grew its stake in shares of Blackbaud by 117.1% during the second quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company’s stock worth $3,020,000 after buying an additional 54,997 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Blackbaud during the first quarter worth $1,351,000. Bank of America Corp DE bought a new stake in shares of Blackbaud during the second quarter worth $12,694,000. Finally, Legal & General Group Plc acquired a new position in shares of Blackbaud during the second quarter worth $2,423,000. 94.21% of the stock is owned by institutional investors.

Blackbaud Company Profile

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.