Kevin Mcdearis Sells 3,210 Shares of Blackbaud, Inc. (NASDAQ:BLKB) Stock

by · The Markets Daily

Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) EVP Kevin Mcdearis sold 3,210 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.16, for a total value of $273,363.60. Following the completion of the sale, the executive vice president now directly owns 63,802 shares of the company’s stock, valued at approximately $5,433,378.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Friday, August 30th, Kevin Mcdearis sold 18,996 shares of Blackbaud stock. The shares were sold at an average price of $83.00, for a total value of $1,576,668.00.

Blackbaud Trading Up 1.9 %

NASDAQ BLKB opened at $85.69 on Friday. The business has a 50 day simple moving average of $79.56 and a 200 day simple moving average of $77.20. Blackbaud, Inc. has a one year low of $64.32 and a one year high of $88.56. The stock has a market capitalization of $4.42 billion, a P/E ratio of 209.00 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.80 and a quick ratio of 0.80.

Blackbaud (NASDAQ:BLKB – Get Free Report) last released its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The business had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts expect that Blackbaud, Inc. will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On Blackbaud

A number of hedge funds have recently added to or reduced their stakes in BLKB. Norges Bank acquired a new stake in Blackbaud in the fourth quarter valued at approximately $43,589,000. Public Employees Retirement Association of Colorado grew its stake in Blackbaud by 1,371.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 340,098 shares of the technology company’s stock valued at $29,486,000 after acquiring an additional 316,992 shares during the period. Clearbridge Investments LLC acquired a new stake in Blackbaud in the fourth quarter valued at approximately $23,010,000. Geneva Capital Management LLC grew its stake in Blackbaud by 12.7% in the first 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 period. Finally, Wellington Management Group LLP grew its stake in Blackbaud by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 456,432 shares of the technology company’s stock valued at $39,573,000 after acquiring an additional 77,348 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BLKB shares. Robert W. Baird increased their price target on Blackbaud from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI raised Blackbaud to a “hold” rating in a research note on Thursday, August 1st.

View Our Latest Analysis on Blackbaud

About Blackbaud

(Get Free Report)

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.

Featured Articles