Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) EVP Sells 2,261 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 2,261 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the transaction, the executive vice president now owns 60,129 shares of the company’s stock, valued at $5,118,180.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, September 16th, Kevin Mcdearis sold 3,210 shares of Blackbaud stock. The stock was sold at an average price of $85.16, for a total transaction of $273,363.60.
• 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 transaction of $1,576,668.00.

Blackbaud Stock Down 1.1 %

Blackbaud stock traded down $0.95 during trading hours on Friday, hitting $84.74. The stock had a trading volume of 758,897 shares, compared to its average volume of 242,032. The stock’s 50-day moving average price is $79.73 and its 200-day moving average price is $77.26. The stock has a market capitalization of $4.37 billion, a P/E ratio of 206.68 and a beta of 1.02. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. 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 (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $287.29 million during the quarter, compared to analyst estimates of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. Equities research analysts anticipate that Blackbaud, Inc. will post 2.38 EPS for the current fiscal year.

Blackbaud announced that its board has approved a stock repurchase 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 purchase up to 18.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on BLKB. Robert W. Baird raised their price objective on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Blackbaud

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Blackbaud by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after acquiring an additional 71,619 shares during the period. Janus Henderson Group PLC lifted its position in Blackbaud by 1.9% during the first quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after purchasing an additional 53,057 shares during the period. Geneva Capital Management LLC lifted its position in 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 boosted its holdings in Blackbaud by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock worth $78,949,000 after purchasing an additional 8,761 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its position in Blackbaud by 1.6% in the 2nd 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. 94.21% of the stock is currently owned by institutional investors.

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.