Kevin Mcdearis Sells 18,996 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 18,996 shares of Blackbaud stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the transaction, the executive vice president now directly owns 67,012 shares in the company, valued at $5,561,996. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Blackbaud Trading Down 0.3 %

NASDAQ BLKB opened at $81.89 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The firm has a market capitalization of $4.23 billion, a PE ratio of 199.73 and a beta of 1.01. The stock’s 50 day moving average is $78.24 and its 200 day moving average is $76.24.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, beating 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 company had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Blackbaud, Inc. will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blackbaud

Several hedge funds have recently made changes to their positions in BLKB. Russell Investments Group Ltd. boosted its position in shares of Blackbaud by 1.2% during the fourth quarter. Russell Investments Group Ltd. now owns 81,873 shares of the technology company’s stock valued at $7,098,000 after purchasing an additional 982 shares in the last quarter. Victory Capital Management Inc. raised its stake in Blackbaud by 13.6% during the fourth quarter. Victory Capital Management Inc. now owns 8,978 shares of the technology company’s stock valued at $778,000 after buying an additional 1,073 shares during the last quarter. Natixis Advisors L.P. raised its stake in Blackbaud by 12.8% during the fourth quarter. Natixis Advisors L.P. now owns 12,905 shares of the technology company’s stock valued at $1,118,000 after buying an additional 1,463 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Blackbaud by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,200 shares of the technology company’s stock valued at $35,651,000 after buying an additional 3,670 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Blackbaud by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,181 shares of the technology company’s stock valued at $89,145,000 after buying an additional 24,910 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BLKB has been the topic of a number of recent analyst reports. Evercore ISI upgraded Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price objective on Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

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.