Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis Sells 2,261 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) EVP Kevin Mcdearis sold 2,261 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the transaction, the executive vice president now owns 60,129 shares of the company’s stock, valued at $5,118,180.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

Kevin Mcdearis also recently made the following trade(s):

• On Monday, September 16th, Kevin Mcdearis sold 3,210 shares of Blackbaud stock. The stock was sold at an average price of $85.16, for a total transaction of $273,363.60.
• On Friday, August 30th, Kevin Mcdearis sold 18,996 shares of Blackbaud stock. The stock was sold at an average price of $83.00, for a total transaction of $1,576,668.00.

Blackbaud Stock Performance

Shares of BLKB stock opened at $84.74 on Friday. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The company’s 50-day moving average is $79.88 and its 200 day moving average is $77.31. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 206.68 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. Blackbaud’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. Sell-side analysts expect that Blackbaud, Inc. will post 2.38 EPS for the current fiscal year.

Blackbaud announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on BLKB. Evercore ISI raised shares of Blackbaud to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on shares of Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st.

Institutional Trading of Blackbaud

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Blackbaud by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company’s stock valued at $418,609,000 after acquiring an additional 71,619 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Blackbaud by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company’s stock valued at $210,599,000 after acquiring an additional 53,057 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in shares of Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company’s stock valued at $88,663,000 after acquiring an additional 135,103 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company’s stock valued at $78,949,000 after acquiring an additional 8,761 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in shares of Blackbaud by 1.6% during the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company’s stock valued at $50,076,000 after acquiring an additional 10,203 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.