Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) EVP Sells 3,210 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 3,210 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.16, for a total value of $273,363.60. Following the completion of the sale, the executive vice president now directly owns 63,802 shares of the company’s stock, valued at $5,433,378.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kevin Mcdearis also recently made the following trade(s):

• On Wednesday, September 18th, Kevin Mcdearis sold 2,261 shares of Blackbaud stock. The stock was sold at an average price of $85.12, for a total value of $192,456.32.
• On Friday, August 30th, Kevin Mcdearis sold 18,996 shares of Blackbaud stock. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00.

Blackbaud Stock Down 1.1 %

Shares of Blackbaud stock opened at $84.74 on Friday. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 206.68 and a beta of 1.02. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The business’s 50 day simple moving average is $79.73 and its 200-day simple moving average is $77.26.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI raised shares of Blackbaud to a “hold” rating in a report on Thursday, August 1st.

Institutional Investors Weigh In On Blackbaud

A number of hedge funds have recently made changes to their positions in the business. 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 worth $418,609,000 after buying an additional 71,619 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Blackbaud by 1.9% in the first quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock worth $210,599,000 after purchasing an additional 53,057 shares in the last quarter. Geneva Capital Management LLC increased its holdings 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 purchasing an additional 135,103 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Blackbaud by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after purchasing an additional 8,761 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its holdings in Blackbaud by 1.6% in the second quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock worth $50,076,000 after purchasing an additional 10,203 shares during the period. Institutional investors 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.