Blackbaud (NASDAQ:BLKB) Shares Up 4.6% - Should You Buy?

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) shares rose 4.6% during mid-day trading on Monday . The stock traded as high as $63.92 and last traded at $64.31. Approximately 79,835 shares traded hands during trading, a decline of 67% from the average daily volume of 242,331 shares. The stock had previously closed at $61.50.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their target price on Blackbaud from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Blackbaud has a consensus rating of "Hold" and an average price target of $78.67.

Blackbaud Stock Up 4.7%

The firm has a market cap of $3.12 billion, a PE ratio of -10.93, a price-to-earnings-growth ratio of 4.58 and a beta of 1.14. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 35.64. The business has a 50-day moving average price of $62.35 and a two-hundred day moving average price of $68.22.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Blackbaud had a positive return on equity of 38.58% and a negative net margin of 25.05%. The business had revenue of $270.66 million during the quarter, compared to analysts' expectations of $268.53 million. During the same quarter last year, the business posted $0.93 EPS. The business's quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Blackbaud, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Chad Anderson sold 5,500 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.99, for a total value of $351,945.00. Following the completion of the transaction, the chief financial officer now owns 35,976 shares in the company, valued at approximately $2,302,104.24. This represents a 13.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jon W. Olson sold 10,698 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $61.15, for a total transaction of $654,182.70. Following the completion of the sale, the senior vice president now directly owns 23,799 shares of the company's stock, valued at approximately $1,455,308.85. This trade represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cibc World Markets Corp purchased a new position in shares of Blackbaud in the 4th quarter valued at about $280,000. Bank of New York Mellon Corp increased its holdings in Blackbaud by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock valued at $35,671,000 after buying an additional 140,273 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Blackbaud during the 4th quarter valued at approximately $6,546,000. UMB Bank n.a. boosted its stake in shares of Blackbaud by 63.2% during the 1st quarter. UMB Bank n.a. now owns 692 shares of the technology company's stock worth $43,000 after acquiring an additional 268 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Blackbaud by 163.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 19,637 shares of the technology company's stock worth $1,452,000 after acquiring an additional 12,189 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.

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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