Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) CFO Sells 3,100 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Anthony W. Boor sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares of the company’s stock, valued at approximately $12,579,140.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Blackbaud Stock Performance

Blackbaud stock traded up $2.41 during mid-day trading on Monday, reaching $79.13. The company’s stock had a trading volume of 746,426 shares, compared to its average volume of 285,791. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.94. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 2,634.67, a PEG ratio of 3.33 and a beta of 1.04. Blackbaud, Inc. has a twelve month low of $64.32 and a twelve month high of $88.56. The business has a 50 day moving average price of $72.75 and a 200-day moving average price of $75.89.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. The company had revenue of $295.01 million for the quarter, compared to analysts’ expectations of $299.04 million. During the same period last year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Blackbaud, Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BLKB. Robert W. Baird decreased their price objective on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Thursday.

Institutional Investors Weigh In On Blackbaud

Hedge funds and other institutional investors have recently modified their holdings of the stock. Operose Advisors LLC bought a new stake in shares of Blackbaud during the third quarter valued at about $25,000. Russell Investments Group Ltd. bought a new stake in shares of Blackbaud during the first quarter valued at about $35,000. FSC Wealth Advisors LLC acquired a new position in Blackbaud during the third quarter worth about $40,000. GAMMA Investing LLC acquired a new position in Blackbaud during the fourth quarter worth about $64,000. Finally, Parallel Advisors LLC grew its holdings in Blackbaud by 303.3% during the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after acquiring an additional 552 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.