Blackbaud, Inc. (NASDAQ:BLKB) SVP Sells $280,673.70 in Stock

Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson sold 3,603 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $77.90, for a total value of $280,673.70. Following the transaction, the senior vice president now owns 26,025 shares of the company’s stock, valued at approximately $2,027,347.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Blackbaud Price Performance

BLKB opened at $79.30 on Thursday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 193.41 and a beta of 1.01. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 1.73. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The business’s fifty day simple moving average is $76.84 and its 200-day simple moving average is $75.83.

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, topping 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 company had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Blackbaud, Inc. will post 2.27 earnings per share for the current fiscal year.

Institutional Trading of Blackbaud

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Blackbaud in the 4th quarter worth $43,589,000. Public Employees Retirement Association of Colorado raised its holdings in Blackbaud by 1,371.9% in the fourth 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 in the last quarter. Clearbridge Investments LLC bought a new position in Blackbaud in the fourth quarter worth about $23,010,000. Geneva Capital Management LLC lifted its position in shares of Blackbaud by 12.7% during 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 holdings in shares of Blackbaud by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after buying an additional 77,348 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

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.