Blackbaud (NASDAQ:BLKB) Stock: Insider Andrew Leitch Sells 18,000 Shares

Blackbaud, Inc. (NASDAQ:BLKB) Director Andrew Leitch sold 18,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $53.70, for a total transaction of $966,600.00. Following the transaction, the director owned 30,035 shares in the company, valued at $1,612,879.50. The trade was a 37.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Blackbaud Trading Down 0.9%

Shares of BLKB opened at $54.40 on Thursday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.86 and a beta of 1.02. The company has a debt-to-equity ratio of 8.55, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $64.84. The firm has a 50 day moving average price of $48.30 and a 200-day moving average price of $41.40.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. Blackbaud had a net margin of 12.87% and a return on equity of 209.40%. The company had revenue of $292.64 million during the quarter, compared to analysts’ expectations of $293.93 million. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Blackbaud, Inc. will post 3.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BLKB shares. Robert W. Baird set a $68.00 price objective on Blackbaud in a research note on Thursday, October 29th. Weiss Ratings upgraded Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Finally, Raymond James Financial restated an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.00.

Institutional Investors Weigh In On Blackbaud

A number of large investors have recently added to or reduced their stakes in BLKB. Palisade Capital Management LP purchased a new stake in shares of Blackbaud during the second quarter worth about $6,171,000. Wedge Capital Management L L P NC increased its holdings in Blackbaud by 117.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 101,975 shares of the technology company’s stock valued at $3,020,000 after purchasing an additional 54,997 shares during the period. Renaissance Technologies LLC purchased a new position in Blackbaud during the 1st quarter valued at about $1,351,000. Bank of America Corp DE bought a new position in Blackbaud during the 2nd quarter valued at approximately $12,694,000. Finally, Legal & General Group Plc bought a new position in Blackbaud during the 2nd quarter valued at approximately $2,423,000. Institutional investors own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.