Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash Sells 1,600 Shares

Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $83.46, for a total value of $133,536.00. Following the sale, the director now directly owns 22,123 shares in the company, valued at approximately $1,846,385.58. This represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Blackbaud Trading Up 2.8 %

NASDAQ:BLKB traded up $2.35 on Thursday, hitting $85.37. 261,287 shares of the stock were exchanged, compared to its average volume of 232,265. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.56. The company’s 50-day moving average price is $83.48 and its 200 day moving average price is $80.02. 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 stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 81.39 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results 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 firm had revenue of $286.70 million during the quarter, compared to analyst estimates of $293.74 million. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Blackbaud announced that its Board of Directors has approved a stock 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 reacquire up to 18.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLKB shares. Stifel Nicolaus upped their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Raymond James reduced their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI upgraded Blackbaud to a “hold” rating in a report on Thursday, August 1st. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Four 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 an average rating of “Hold” and a consensus target price of $86.67.

Institutional Investors Weigh In On Blackbaud

A number of hedge funds and other institutional investors have recently made changes to their positions in BLKB. DT Investment Partners LLC bought a new position in Blackbaud in the 2nd quarter valued at about $33,000. Quest Partners LLC increased its position in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after purchasing an additional 413 shares in the last quarter. TD Private Client Wealth LLC grew its stake 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 buying an additional 347 shares during the last quarter. Blue Trust Inc. boosted 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 in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Blackbaud in the third quarter valued at approximately $142,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.