Blackbaud (NASDAQ:BLKB) Trading Up 2.2%

Blackbaud, Inc. (NASDAQ:BLKB)’s share price was up 2.2% during trading on Friday . The stock traded as high as $77.81 and last traded at $77.61. Approximately 142,930 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 276,139 shares. The stock had previously closed at $75.97.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BLKB shares. StockNews.com raised Blackbaud from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird dropped their target price on Blackbaud from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th.

Blackbaud Stock Up 1.0 %

The company has a 50 day moving average price of $72.75 and a two-hundred day moving average price of $75.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $4.10 billion, a PE ratio of 2,557.33, a PEG ratio of 3.30 and a beta of 1.04.

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

Insider Transactions at Blackbaud

In other news, CEO Michael P. Gianoni sold 5,799 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.02, for a total value of $429,241.98. Following the completion of the transaction, the chief executive officer now owns 402,060 shares in the company, valued at $29,760,481.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael P. Gianoni sold 5,799 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $74.02, for a total transaction of $429,241.98. Following the completion of the sale, the chief executive officer now owns 402,060 shares in the company, valued at $29,760,481.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $74.00, for a total value of $31,746.00. Following the sale, the chief financial officer now owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The disclosure for this sale can be found here. Insiders sold 44,897 shares of company stock worth $3,190,458 over the last quarter. 1.89% of the stock is currently owned by insiders.

Institutional Trading of Blackbaud

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Blackbaud by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock valued at $483,316,000 after purchasing an additional 23,727 shares during the period. BlackRock Inc. grew its holdings in Blackbaud by 0.7% during the second quarter. BlackRock Inc. now owns 5,516,945 shares of the technology company’s stock valued at $392,696,000 after purchasing an additional 38,024 shares during the period. Morgan Stanley grew its holdings in Blackbaud by 1.7% during the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after purchasing an additional 72,071 shares during the period. Finally, State Street Corp grew its holdings in Blackbaud by 2.0% during the second quarter. State Street Corp now owns 1,577,991 shares of the technology company’s stock valued at $112,321,000 after purchasing an additional 31,550 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

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.