Blackbaud Inc. (BLKB) Insider Michael P. Gianoni Sells 3,973 Shares
Blackbaud Inc. (NASDAQ:BLKB) insider Michael P. Gianoni sold 3,973 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $63.00, for a total transaction of $250,299.00. Following the completion of the transaction, the insider now directly owns 250,456 shares of the company’s stock, valued at approximately $15,778,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Blackbaud Inc. (NASDAQ:BLKB) opened at 63.94 on Wednesday. The firm has a 50-day moving average of $63.47 and a 200 day moving average of $65.59. The firm has a market cap of $2.95 billion, a P/E ratio of 98.37 and a beta of 0.96. Blackbaud Inc. has a 1-year low of $49.89 and a 1-year high of $71.76.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.06. The company earned $183.10 million during the quarter, compared to analyst estimates of $184.68 million. Blackbaud had a net margin of 3.97% and a return on equity of 27.58%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, analysts predict that Blackbaud Inc. will post $1.90 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.75%. Blackbaud’s dividend payout ratio (DPR) is presently 78.69%.
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A number of research firms have recently weighed in on BLKB. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Bank of America Corp. lowered Blackbaud from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research report on Wednesday, November 23rd. B. Riley reaffirmed a “buy” rating and set a $77.00 price objective on shares of Blackbaud in a research report on Wednesday, August 3rd. JMP Securities began coverage on Blackbaud in a research report on Thursday, October 13th. They set an “outperform” rating on the stock. Finally, Wunderlich upped their price objective on Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.89.
Institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new position in shares of Blackbaud during the second quarter worth $615,000. Henderson Group PLC raised its position in Blackbaud by 57.6% in the second quarter. Henderson Group PLC now owns 490,805 shares of the company’s stock valued at $33,326,000 after buying an additional 179,382 shares during the last quarter. Moody Aldrich Partners LLC raised its position in Blackbaud by 168.3% in the second quarter. Moody Aldrich Partners LLC now owns 22,990 shares of the company’s stock valued at $1,561,000 after buying an additional 14,420 shares during the last quarter. Strs Ohio raised its position in Blackbaud by 10.1% in the second quarter. Strs Ohio now owns 7,600 shares of the company’s stock valued at $516,000 after buying an additional 700 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Blackbaud by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the company’s stock valued at $1,426,000 after buying an additional 200 shares during the last quarter.
Blackbaud Company Profile
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
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