Blackbaud (NASDAQ:BLKB) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Blackbaud, Inc. (NASDAQ:BLKB) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $63.59 and traded as high as $64.46. Blackbaud shares last traded at $63.52, with a volume of 180,374 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BLKB shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Blackbaud from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Stifel Nicolaus set a $70.00 price objective on shares of Blackbaud in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.00.

Blackbaud Trading Down 1.2%

The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a fifty day simple moving average of $61.28 and a 200-day simple moving average of $63.59. The firm has a market cap of $3.04 billion, a P/E ratio of -12.22, a price-to-earnings-growth ratio of 2.81 and a beta of 1.09.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. Blackbaud had a positive return on equity of 137.13% and a negative net margin of 22.57%.The company had revenue of $274.76 million for the quarter. On average, equities research analysts expect that Blackbaud, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Blackbaud

In other Blackbaud news, Director Rupal S. Hollenbeck sold 1,600 shares of Blackbaud stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $56.49, for a total transaction of $90,384.00. Following the completion of the transaction, the director owned 6,366 shares in the company, valued at approximately $359,615.34. The trade was a 20.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Gianoni sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $57.68, for a total value of $288,400.00. Following the sale, the chief executive officer directly owned 372,985 shares of the company’s stock, valued at $21,513,774.80. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,600 shares of company stock valued at $690,834 over the last quarter. Corporate insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. raised its position in Blackbaud by 36.4% in the 1st quarter. Raymond James Financial Inc. now owns 120,748 shares of the technology company’s stock valued at $7,492,000 after buying an additional 32,194 shares during the last quarter. Comerica Bank grew its stake in shares of Blackbaud by 40.4% in the 1st quarter. Comerica Bank now owns 20,485 shares of the technology company’s stock worth $1,271,000 after acquiring an additional 5,893 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock valued at $9,911,000 after purchasing an additional 143,533 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Blackbaud in the first quarter valued at about $856,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Blackbaud by 342.2% during the first quarter. Cubist Systematic Strategies LLC now owns 86,388 shares of the technology company’s stock valued at $5,360,000 after purchasing an additional 66,851 shares in the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.

Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.