George H. Ellis Sells 3,000 Shares of Blackbaud, Inc. (BLKB) Stock
Blackbaud, Inc. (NASDAQ:BLKB) Director George H. Ellis sold 3,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $85.40, for a total transaction of $256,200.00. Following the sale, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Blackbaud, Inc. (BLKB) traded down 1.02% during mid-day trading on Tuesday, hitting $84.65. 253,268 shares of the stock were exchanged. The company has a market cap of $3.95 billion, a P/E ratio of 81.47 and a beta of 0.77. Blackbaud, Inc. has a one year low of $55.88 and a one year high of $93.81. The company has a 50-day moving average price of $88.40 and a 200-day moving average price of $80.30.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. The company had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Analysts forecast that Blackbaud, Inc. will post $2.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, August 28th will be issued a $0.12 dividend. The ex-dividend date 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 is presently 47.06%.
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Several institutional investors have recently made changes to their positions in BLKB. Raymond James Trust N.A. bought a new position in shares of Blackbaud during the first quarter worth about $220,000. Bank of Montreal Can increased its position in Blackbaud by 0.7% in the first quarter. Bank of Montreal Can now owns 15,456 shares of the technology company’s stock valued at $1,185,000 after buying an additional 111 shares during the period. Louisiana State Employees Retirement System increased its position in Blackbaud by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the technology company’s stock valued at $1,487,000 after buying an additional 300 shares during the period. Conestoga Capital Advisors LLC increased its position in Blackbaud by 4.4% in the first quarter. Conestoga Capital Advisors LLC now owns 734,887 shares of the technology company’s stock valued at $56,344,000 after buying an additional 30,926 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Blackbaud during the first quarter valued at $272,000.
BLKB has been the subject of a number of research reports. Benchmark Co. cut their target price on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Stifel Nicolaus reissued a “buy” rating and set a $96.00 target price on shares of Blackbaud in a research note on Friday, July 21st. Raymond James Financial, Inc. initiated coverage on shares of Blackbaud in a research note on Wednesday, April 19th. They set an “outperform” rating and a $90.00 target price for the company. Finally, B. Riley cut shares of Blackbaud to a “neutral” rating and set a $78.00 target price for the company. in a research note on Monday, May 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and a consensus target price of $81.71.
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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