Blackbaud, Inc. (NASDAQ:BLKB) Director Rupal S. Hollenbeck Sells 2,500 Shares

Key Points

• Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud, Inc. at an average price of $63.98, resulting in a total value of $159,950 and a 23.89% decrease in their stock ownership.
• Blackbaud reported a quarterly earnings per share (EPS) of $1.21, exceeding analysts' expectations, but its revenue was down 2.1% year-over-year.
• Research firms recently upgraded Blackbaud's rating from "hold" to "buy," while the average price target is set at $78.67, indicating potential for growth.

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) Director Rupal S. Hollenbeck sold 2,500 shares of Blackbaud stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.98, for a total value of $159,950.00. Following the sale, the director directly owned 7,966 shares in the company, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Blackbaud Stock Performance

NASDAQ BLKB traded up $0.03 on Tuesday, reaching $61.38. 423,801 shares of the company's stock traded hands, compared to its average volume of 361,501. Blackbaud, Inc. has a fifty-two week low of $58.05 and a fifty-two week high of $88.95. The company has a debt-to-equity ratio of 12.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average price of $63.99 and a 200-day moving average price of $65.24. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -10.62, a P/E/G ratio of 4.29 and a beta of 1.13.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.16. The business had revenue of $281.38 million during the quarter, compared to analysts' expectations of $276.48 million. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. The company's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities research analysts predict that Blackbaud, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLKB. Wall Street Zen upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus cut their price objective on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its stake in shares of Blackbaud by 17.7% in the fourth quarter. LPL Financial LLC now owns 12,905 shares of the technology company's stock valued at $954,000 after purchasing an additional 1,940 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Blackbaud by 6.3% during the fourth quarter. Wells Fargo & Company MN now owns 50,786 shares of the technology company's stock worth $3,754,000 after buying an additional 3,017 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Blackbaud by 1,349.0% during the fourth quarter. Russell Investments Group Ltd. now owns 10,375 shares of the technology company's stock worth $767,000 after buying an additional 9,659 shares in the last quarter. Bank of Montreal Can grew its holdings in Blackbaud by 7.1% in the fourth quarter. Bank of Montreal Can now owns 14,686 shares of the technology company's stock valued at $1,086,000 after purchasing an additional 975 shares during the period. Finally, Invesco Ltd. grew its holdings in Blackbaud by 1.1% in the fourth quarter. Invesco Ltd. now owns 71,288 shares of the technology company's stock valued at $5,270,000 after purchasing an additional 745 shares during the period. 94.21% of the stock is owned by hedge funds and other 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.

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