Blackbaud, Inc. (NASDAQ:BLKB) CFO Chad Anderson Sells 5,500 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) CFO Chad Anderson sold 5,500 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the sale, the chief financial officer now directly owns 35,976 shares of the company’s stock, valued at $2,302,104.24. This represents a 13.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Blackbaud Price Performance

NASDAQ:BLKB opened at $63.76 on Wednesday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -10.81 and a beta of 1.16. Blackbaud, Inc. has a 52-week low of $58.05 and a 52-week high of $88.95. The stock has a fifty day moving average of $62.53 and a 200 day moving average of $71.79. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The company had revenue of $270.66 million during the quarter, compared to analyst estimates of $268.53 million. During the same quarter last year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Blackbaud

Hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in Blackbaud during the fourth quarter worth about $377,000. Tributary Capital Management LLC lifted its stake in shares of Blackbaud by 1.3% in the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after acquiring an additional 3,739 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Blackbaud in the 4th quarter valued at about $280,000. Blue Trust Inc. lifted its stake in shares of Blackbaud by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,930 shares of the technology company’s stock valued at $143,000 after acquiring an additional 333 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Blackbaud by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company’s stock valued at $35,671,000 after acquiring an additional 140,273 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird decreased their target price on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their price target on Blackbaud from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.67.

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.