Michael P. Gianoni Sells 3,973 Shares of Blackbaud Inc. (BLKB) Stock
Blackbaud Inc. (NASDAQ:BLKB) insider Michael P. Gianoni sold 3,973 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $63.00, for a total transaction of $250,299.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Blackbaud Inc. (NASDAQ:BLKB) opened at 62.78 on Thursday. Blackbaud Inc. has a one year low of $49.89 and a one year high of $71.76. The stock has a 50 day moving average of $63.47 and a 200 day moving average of $65.59. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 96.58 and a beta of 0.96.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.06. Blackbaud had a net margin of 3.97% and a return on equity of 27.58%. The company earned $183.10 million during the quarter, compared to analyst estimates of $184.68 million. During the same quarter last year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that Blackbaud Inc. will post $1.90 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, November 21st. This represents a $0.48 annualized dividend and a yield of 0.76%. Blackbaud’s dividend payout ratio (DPR) is currently 78.69%.
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A number of institutional investors have recently bought and sold shares of the stock. Atlanta Capital Management Co. L L C increased its position in Blackbaud by 5.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,539,544 shares of the company’s stock valued at $308,235,000 after buying an additional 254,792 shares during the period. Janus Capital Management LLC increased its position in Blackbaud by 0.5% in the second quarter. Janus Capital Management LLC now owns 4,182,144 shares of the company’s stock valued at $283,968,000 after buying an additional 19,457 shares during the period. Vanguard Group Inc. increased its position in Blackbaud by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,772,504 shares of the company’s stock valued at $256,154,000 after buying an additional 61,918 shares during the period. BlackRock Fund Advisors increased its position in Blackbaud by 7.1% in the third quarter. BlackRock Fund Advisors now owns 3,338,115 shares of the company’s stock valued at $221,451,000 after buying an additional 221,460 shares during the period. Finally, Champlain Investment Partners LLC increased its position in Blackbaud by 12.8% in the second quarter. Champlain Investment Partners LLC now owns 1,252,110 shares of the company’s stock valued at $85,018,000 after buying an additional 141,820 shares during the period.
Several analysts recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective on shares of Blackbaud in a research note on Tuesday, November 8th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Monday, October 31st. JMP Securities assumed coverage on shares of Blackbaud in a research note on Thursday, October 13th. They set an “outperform” rating for the company. Finally, Bank of America Corp. cut shares of Blackbaud from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research note on Wednesday, November 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and an average target price of $69.89.
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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