Blackbaud (NASDAQ:BLKB) Shares Gap Up to $76.72

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $76.72, but opened at $79.04. Blackbaud shares last traded at $79.01, with a volume of 117,531 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLKB. Robert W. Baird dropped their price objective on shares of Blackbaud from $95.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. StockNews.com upgraded shares of Blackbaud from a "hold" rating to a "buy" rating in a research report on Thursday.

Blackbaud Stock Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.78 and a current ratio of 0.78. The firm's 50-day moving average price is $72.75 and its two-hundred day moving average price is $75.95. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 2,637.67, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.09. The firm had revenue of $295.01 million for the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Sell-side analysts predict that Blackbaud, Inc. will post 2.35 earnings per share for the current year.

Insider Buying and Selling at Blackbaud

In other news, CFO Anthony W. Boor sold 6,900 shares of the company's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the transaction, the chief financial officer now directly owns 151,368 shares in the company, valued at $11,959,585.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Anthony W. Boor sold 6,900 shares of the business's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.01, for a total transaction of $545,169.00. Following the completion of the sale, the chief financial officer now directly owns 151,368 shares of the company's stock, valued at $11,959,585.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony W. Boor sold 3,100 shares of the business's stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $79.48, for a total transaction of $246,388.00. Following the sale, the chief financial officer now directly owns 158,268 shares of the company's stock, valued at $12,579,140.64. The disclosure for this sale can be found here. Insiders have sold a total of 59,897 shares of company stock worth $4,377,015 over the last ninety days. Corporate insiders own 1.89% of the company's stock.

Institutional Investors Weigh In On Blackbaud

Several large investors have recently bought and sold shares of BLKB. Operose Advisors LLC bought a new stake in Blackbaud in the third quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new stake in Blackbaud in the first quarter valued at approximately $35,000. FSC Wealth Advisors LLC bought a new stake in Blackbaud in the third quarter valued at approximately $40,000. GAMMA Investing LLC bought a new stake in Blackbaud in the fourth quarter valued at approximately $64,000. Finally, Parallel Advisors LLC increased its stake in Blackbaud by 303.3% in the fourth quarter. Parallel Advisors LLC now owns 734 shares of the technology company's stock valued at $64,000 after purchasing an additional 552 shares in the last quarter. Institutional investors own 94.21% of the company's stock.

About Blackbaud

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.