Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson Sells 9,000 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) SVP Jon W. Olson sold 9,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $75.80, for a total value of $682,200.00. Following the sale, the senior vice president now directly owns 29,152 shares in the company, valued at $2,209,721.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Blackbaud Stock Down 1.5 %

BLKB stock opened at $75.02 on Wednesday. Blackbaud, Inc. has a twelve month low of $43.54 and a twelve month high of $78.71. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.09. The stock has a market cap of $4.04 billion, a P/E ratio of -88.26, a PEG ratio of 1.81 and a beta of 1.17. The business’s 50-day moving average price is $73.72 and its 200-day moving average price is $68.91.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Blackbaud had a positive return on equity of 9.43% and a negative net margin of 4.13%. The firm had revenue of $271.04 million for the quarter, compared to analysts’ expectations of $272.65 million. On average, equities research analysts forecast that Blackbaud, Inc. will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BLKB. StockNews.com began coverage on Blackbaud in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Raymond James raised Blackbaud from a “market perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research report on Monday, June 5th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Blackbaud by 58.8% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 408 shares of the technology company’s stock valued at $28,000 after buying an additional 151 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Blackbaud during the 1st quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. bought a new stake in Blackbaud during the 1st quarter valued at approximately $42,000. Fifth Third Bancorp raised its stake in Blackbaud by 304.9% during the 1st quarter. Fifth Third Bancorp now owns 660 shares of the technology company’s stock valued at $46,000 after purchasing an additional 497 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Blackbaud during the 2nd quarter valued at approximately $57,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to higher education institutions, K12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents 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 Management.