Blackbaud, Inc. (BLKB) Director Sells $93,681.90 in Stock
Blackbaud, Inc. (NASDAQ:BLKB) Director Sarah E. Nash sold 1,105 shares of Blackbaud stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $84.78, for a total transaction of $93,681.90. Following the completion of the transaction, the director now directly owns 22,272 shares of the company’s stock, valued at approximately $1,888,220.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Blackbaud, Inc. (BLKB) traded up 0.82% during midday trading on Friday, reaching $83.95. 172,063 shares of the company’s stock traded hands. Blackbaud, Inc. has a 52-week low of $55.88 and a 52-week high of $93.81. The firm has a market capitalization of $3.92 billion, a P/E ratio of 80.80 and a beta of 0.77. The stock’s 50 day moving average price is $87.61 and its 200 day moving average price is $81.28.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 EPS 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 company had revenue of $192.50 million during the quarter, compared to the consensus estimate of $193.66 million. During the same quarter last year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Blackbaud, Inc. will post $2.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 28th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Blackbaud’s dividend payout ratio (DPR) is presently 47.06%.
Large investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC bought a new stake in Blackbaud during the second quarter worth approximately $125,000. Northwestern Mutual Wealth Management Co. raised its stake in Blackbaud by 18.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock worth $115,000 after buying an additional 230 shares during the period. QS Investors LLC raised its stake in Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after buying an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after buying an additional 163 shares during the period. Finally, Investment Centers of America Inc. bought a new stake in Blackbaud during the second quarter worth approximately $203,000.
Several brokerages have recently issued reports on BLKB. B. Riley reissued a “neutral” rating and set a $78.00 price target on shares of Blackbaud in a report on Wednesday. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Stifel Nicolaus restated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. Finally, Benchmark Co. cut their price objective on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $81.71.
Blackbaud Company Profile
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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