Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis Sells 2,261 Shares

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 2,261 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the sale, the executive vice president now owns 60,129 shares of the company’s stock, valued at approximately $5,118,180.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kevin Mcdearis also recently made the following trade(s):

• On Monday, September 16th, Kevin Mcdearis sold 3,210 shares of Blackbaud stock. The stock was sold at an average price of $85.16, for a total transaction of $273,363.60.
• On Friday, August 30th, Kevin Mcdearis sold 18,996 shares of Blackbaud stock. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB opened at $84.74 on Friday. Blackbaud, Inc. has a 12-month low of $64.32 and a 12-month high of $88.56. The company’s 50 day moving average price is $79.88 and its two-hundred day moving average price is $77.35. The firm has a market cap of $4.37 billion, a PE ratio of 206.68 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.73.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. Equities research analysts predict that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Blackbaud announced that its board has authorized a stock buyback program on Tuesday, July 30th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to buy up to 18.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BLKB shares. Robert W. Baird boosted their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI raised Blackbaud to a “hold” rating in a report on Thursday, August 1st.

Institutional Investors Weigh In On Blackbaud

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Blackbaud during the 1st quarter worth approximately $720,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Blackbaud by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock valued at $28,768,000 after purchasing an additional 10,555 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Blackbaud by 217.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,935 shares of the technology company’s stock valued at $2,162,000 after purchasing an additional 17,086 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Blackbaud by 5.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 264,816 shares of the technology company’s stock worth $19,633,000 after buying an additional 12,881 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Blackbaud during the 4th quarter worth $43,589,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.