Michael P. Gianoni Sells 9,479 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

Blackbaud, Inc. (NASDAQ:BLKB) CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $88.13, for a total transaction of $835,384.27. Following the sale, the chief executive officer now owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Blackbaud Stock Performance

Shares of NASDAQ BLKB opened at $84.23 on Thursday. The business’s 50-day simple moving average is $83.70 and its 200-day simple moving average is $80.26. Blackbaud, Inc. has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 82.58 and a beta of 1.03.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The firm had revenue of $286.70 million during the quarter, compared to the consensus estimate of $293.74 million. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. As a group, equities research analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on BLKB shares. Raymond James lowered their price target on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Evercore ISI upgraded shares of Blackbaud to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.67.

Institutional Investors Weigh In On Blackbaud

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Blackbaud by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after purchasing an additional 71,619 shares during the period. Epoch Investment Partners Inc. bought a new stake in shares of Blackbaud in the first quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD grew its stake in shares of Blackbaud by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after acquiring an additional 10,555 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Blackbaud by 7.5% in the first quarter. Public Employees Retirement System of Ohio now owns 100,422 shares of the technology company’s stock worth $7,445,000 after acquiring an additional 7,049 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its position in Blackbaud by 1,107.5% during the first quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock worth $2,514,000 after acquiring an additional 31,100 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.