Kevin P. Gregoire Sells 6,619 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) COO Kevin P. Gregoire sold 6,619 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $85.68, for a total value of $567,115.92. Following the sale, the chief operating officer now owns 99,096 shares in the company, valued at approximately $8,490,545.28. This represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Blackbaud Trading Down 3.6 %

BLKB opened at $81.00 on Friday. Blackbaud, Inc. has a 12 month low of $66.47 and a 12 month high of $88.56. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a 50-day moving average of $83.40 and a 200 day moving average of $79.89. The firm has a market cap of $4.11 billion, a P/E ratio of 79.41 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its earnings results 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). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Blackbaud, Inc. will post 2.6 EPS for the current year.

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

Institutional Investors Weigh In On Blackbaud

Several institutional investors have recently made changes to their positions in BLKB. Quest Partners LLC grew its holdings in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares during the last quarter. DT Investment Partners LLC purchased a new position in shares of Blackbaud during the second quarter valued at approximately $33,000. 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 buying an additional 1,047 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud in the third quarter worth approximately $142,000. Finally, EntryPoint Capital LLC lifted its stake in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock worth $188,000 after acquiring an additional 2,078 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Analysts Set New Price Targets

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

About Blackbaud

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.