Blackbaud, Inc. (BLKB) Director Sells $256,200.00 in Stock
Blackbaud, Inc. (NASDAQ:BLKB) Director George H. Ellis sold 3,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the completion of the sale, the director now owns 9,011 shares of the company’s stock, valued at $769,539.40. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded down 1.02% on Tuesday, reaching $84.65. 253,268 shares of the company traded hands. Blackbaud, Inc. has a 1-year low of $55.88 and a 1-year high of $93.81. The company has a 50-day moving average of $88.40 and a 200-day moving average of $80.30. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 81.47 and a beta of 0.77.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.12. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The firm had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Blackbaud, Inc. will post $2.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be issued a $0.12 dividend. The ex-dividend date is Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. Blackbaud’s payout ratio is 47.06%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after buying an additional 5,737,302 shares during the last quarter. Janus Henderson Group PLC boosted its position in Blackbaud by 787.4% in the second quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock worth $355,393,000 after buying an additional 3,677,492 shares during the last quarter. State Street Corp boosted its position in Blackbaud by 37.0% in the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after buying an additional 428,948 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Blackbaud by 208.2% in the first quarter. Neuberger Berman Group LLC now owns 624,541 shares of the technology company’s stock worth $47,884,000 after buying an additional 421,894 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in Blackbaud during the second quarter worth $375,000.
Several research firms have recently commented on BLKB. B. Riley restated a “neutral” rating and issued a $78.00 price objective on shares of Blackbaud in a research note on Monday, August 7th. Benchmark Co. reduced their price objective on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, June 27th. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Stifel Nicolaus upped their price objective on Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, Raymond James Financial, Inc. began coverage on Blackbaud in a research note on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $81.71.
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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