Kevin W. Mooney Sells 900 Shares of Blackbaud, Inc. (BLKB) Stock
Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin W. Mooney sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total value of $91,053.00. Following the transaction, the executive vice president now owns 77,711 shares in the company, valued at approximately $7,862,021.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded up $1.57 during trading on Friday, hitting $100.47. 337,468 shares of the company’s stock were exchanged, compared to its average volume of 323,537. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 58.86 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. equities research analysts forecast that Blackbaud, Inc. will post 1.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, November 27th. This represents a $0.48 annualized dividend and a yield of 0.48%. Blackbaud’s dividend payout ratio is presently 44.04%.
BLKB has been the topic of several recent research reports. Citigroup Inc. initiated coverage on Blackbaud in a research note on Friday, September 22nd. They issued a “buy” rating and a $100.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $96.00 target price on shares of Blackbaud in a research note on Friday, July 21st. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Monday. B. Riley set a $82.00 price target on Blackbaud and gave the company a “hold” rating in a report on Thursday, October 19th. Finally, Robert W. Baird set a $85.00 target price on Blackbaud and gave the stock a “hold” rating in a report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $91.44.
Institutional investors have recently bought and sold shares of the company. Allen Investment Management LLC grew its stake in shares of Blackbaud by 69.1% in the 2nd quarter. Allen Investment Management LLC now owns 18,541 shares of the technology company’s stock valued at $1,590,000 after buying an additional 7,579 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after purchasing an additional 51,747 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Blackbaud during the 2nd quarter worth approximately $1,476,000. Turner Investments LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth approximately $472,000. Finally, Nationwide Fund Advisors boosted its position in shares of Blackbaud by 27.2% during the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock worth $37,002,000 after purchasing an additional 92,379 shares during the period.
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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