Blackbaud (NASDAQ:BLKB) Director Andrew Leitch Sells 18,000 Shares of Company Stock

Blackbaud, Inc. (NASDAQ:BLKB) Director Andrew Leitch sold 18,000 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $53.70, for a total transaction of $966,600.00. Following the sale, the director directly owned 30,035 shares in the company, valued at $1,612,879.50. This trade represents a 37.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Blackbaud Trading Up 0.6%

Blackbaud stock opened at $54.92 on Wednesday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.85 and a beta of 1.02. The firm has a 50-day moving average of $48.17 and a 200-day moving average of $41.41. The company has a debt-to-equity ratio of 8.55, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $64.84.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 28th. The technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. Blackbaud had a return on equity of 209.40% and a net margin of 12.87%. The business had revenue of $292.64 million for the quarter, compared to the consensus estimate of $293.93 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. Blackbaud’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Blackbaud, Inc. will post 3.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently modified their holdings of the company. Palisade Capital Management LP bought a new position in Blackbaud during the second quarter worth about $6,171,000. Wedge Capital Management L L P NC increased its position in Blackbaud by 117.1% during the second quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company’s stock worth $3,020,000 after buying an additional 54,997 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Blackbaud in the first quarter valued at approximately $1,351,000. Bank of America Corp DE bought a new stake in Blackbaud in the second quarter valued at approximately $12,694,000. Finally, Legal & General Group Plc bought a new stake in Blackbaud in the second quarter valued at approximately $2,423,000. 94.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLKB shares. Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a research report on Wednesday, July 29th. Robert W. Baird set a $68.00 price objective on Blackbaud in a report on Thursday, October 29th. Finally, Weiss Ratings raised shares of Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.00.

Blackbaud Company Profile

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.