Insider Selling: Blackbaud, Inc. (NASDAQ:BLKB) SVP Sells 8,384 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB – Get Rating) SVP Jon W. Olson sold 8,384 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $55.97, for a total value of $469,252.48. Following the completion of the sale, the senior vice president now owns 50,652 shares of the company’s stock, valued at approximately $2,834,992.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Blackbaud Trading Up 4.3 %

BLKB opened at $55.72 on Wednesday. The stock has a market cap of $2.97 billion, a PE ratio of -62.89, a PEG ratio of 2.77 and a beta of 1.15. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average of $59.76 and a 200-day moving average of $56.00. Blackbaud, Inc. has a 52 week low of $43.54 and a 52 week high of $65.40.

Blackbaud (NASDAQ:BLKB – Get Rating) last released its earnings results on Tuesday, February 14th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The company had revenue of $274.76 million during the quarter, compared to analysts’ expectations of $278.24 million. Blackbaud had a positive return on equity of 7.34% and a negative net margin of 4.29%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Equities research analysts predict that Blackbaud, Inc. will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLKB. Morgan Stanley increased its position in Blackbaud by 865.3% during the 4th quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock valued at $233,678,000 after buying an additional 3,558,788 shares in the last quarter. Clearlake Capital Group L.P. increased its position in Blackbaud by 33.5% during the 2nd quarter. Clearlake Capital Group L.P. now owns 9,751,837 shares of the technology company’s stock valued at $566,289,000 after buying an additional 2,445,882 shares in the last quarter. First Trust Advisors LP increased its position in Blackbaud by 2,238.8% during the 1st quarter. First Trust Advisors LP now owns 534,740 shares of the technology company’s stock valued at $32,015,000 after buying an additional 511,876 shares in the last quarter. Vanguard Group Inc. increased its position in Blackbaud by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 4,916,663 shares of the technology company’s stock valued at $294,361,000 after buying an additional 339,922 shares in the last quarter. Finally, P2 Capital Partners LLC increased its position in Blackbaud by 20.7% during the 4th quarter. P2 Capital Partners LLC now owns 1,650,000 shares of the technology company’s stock valued at $97,119,000 after buying an additional 282,655 shares in the last quarter. Institutional investors own 97.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BLKB shares. TheStreet upgraded Blackbaud from a “d+” rating to a “c-” rating in a report on Friday, December 2nd. StockNews.com cut Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Finally, Robert W. Baird lowered their target price on Blackbaud from $70.00 to $66.00 and set a “neutral” rating for the company in a research note on Wednesday, February 15th.

About Blackbaud

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.