Key Points
- Director Andrew Leitch sold 18,000 Blackbaud shares for about $966,600 at an average price of $53.70, reducing his direct holding by 37.47% to 30,035 shares.
- Blackbaud reported quarterly EPS of $1.36, beating the $1.33 consensus, while revenue of $292.64 million fell slightly short of estimates; revenue rose 4.1% year over year.
- Analysts’ average rating is Hold, with an average price target of $52. The stock opened at $54.92 in the article’s reported session.
Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) Director Andrew Leitch sold 18,000 shares of the firm's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $53.70, for a total value of $966,600.00. Following the sale, the director directly owned 30,035 shares of the company's stock, valued at $1,612,879.50. This represents a 37.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Blackbaud Trading Up 0.6%
BLKB stock opened at $54.92 on Wednesday. The company has a debt-to-equity ratio of 8.55, a current ratio of 0.68 and a quick ratio of 0.68. The company has a fifty day moving average price of $48.17 and a two-hundred day moving average price of $41.41. Blackbaud, Inc. has a one year low of $25.58 and a one year high of $64.84. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.85 and a beta of 1.02.
Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.33 by $0.03. The firm had revenue of $292.64 million for the quarter, compared to the consensus estimate of $293.93 million. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. Equities analysts anticipate that Blackbaud, Inc. will post 3.74 EPS for the current year.
Institutional Trading of Blackbaud
Hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its stake in Blackbaud by 162.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 693 shares of the technology company's stock valued at $29,000 after purchasing an additional 429 shares during the period. Altshuler Shaham Ltd bought a new position in Blackbaud during the 1st quarter worth $29,000. Parallel Advisors LLC increased its position in Blackbaud by 528.0% during the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company's stock worth $30,000 after buying an additional 660 shares during the period. Global Retirement Partners LLC increased its position in Blackbaud by 52.6% during the 3rd quarter. Global Retirement Partners LLC now owns 850 shares of the technology company's stock worth $35,000 after buying an additional 293 shares during the period. Finally, Performa Ltd US LLC lifted its holdings in shares of Blackbaud by 337.5% during the second quarter. Performa Ltd US LLC now owns 875 shares of the technology company's stock worth $26,000 after buying an additional 675 shares in the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of Blackbaud from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, October 19th. Raymond James Financial reissued an "outperform" rating and issued a $55.00 price target on shares of Blackbaud in a report on Wednesday, July 29th. Finally, Robert W. Baird set a $68.00 price objective on shares of Blackbaud in a research report on Thursday, October 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $52.00.
Read Our Latest Stock Analysis on Blackbaud
About Blackbaud
(
Get Free Report)
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.
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