Michael P. Gianoni Sells 12,325 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the completion of the sale, the chief executive officer now owns 389,539 shares in the company, valued at $32,429,121.75. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Blackbaud Stock Up 1.9 %

BLKB opened at $86.98 on Friday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 85.28 and a beta of 1.03. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50-day simple moving average is $83.59 and its 200-day simple moving average is $80.11. Blackbaud, Inc. has a twelve month low of $66.47 and a twelve month high of $88.56.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. Equities research analysts anticipate that Blackbaud, Inc. will post 2.6 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $80.00 in a research report on Thursday, October 31st. Raymond James decreased their price objective on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Evercore ISI raised shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their target price on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.67.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DT Investment Partners LLC bought a new position in shares of Blackbaud in the second quarter valued at about $33,000. Quest Partners LLC raised 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 last quarter. TD Private Client Wealth LLC lifted its position in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Blackbaud during the third quarter valued at approximately $142,000. Institutional investors and hedge funds 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.