#blackbaud #business – Blackbaud, Inc. (NASDAQ:BLKB) EVP John J. Mistretta sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $76.00, for a total value of $190,000.00. Following the sale, the executive vice president now owns 82,778 shares in the company, valued at approximately $6,291,128. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Blackbaud, Inc. (NASDAQ:BLKB) traded up 0.03% during mid-day trading on Friday, hitting $76.61. The stock had a trading volume of 562,390 shares. The firm’s 50 day moving average price is $71.05 and its 200-day moving average price is $66.57. Blackbaud, Inc. has a one year low of $55.88 and a one year high of $77.16. The company has a market cap of $3.55 billion, a PE ratio of 87.06 and a beta of 0.93.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Blackbaud had a net margin of 5.34% and a return on equity of 30.77%. The business had revenue of $198.30 million for the quarter, compared to analysts’ expectations of $195.48 million. During the same period in the previous year, the company posted $0.38 EPS. Blackbaud’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Blackbaud, Inc. will post $2.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Friday, February 24th. Blackbaud’s dividend payout ratio is currently 57.83%.
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Several equities research analysts have recently issued reports on BLKB shares. Bank of America Corp cut Blackbaud from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a report on Wednesday, November 23rd. Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Stifel Nicolaus lifted their target price on Blackbaud from $73.00 to $79.00 and gave the company a “buy” rating in a report on Friday, February 10th. Wunderlich cut Blackbaud from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a report on Thursday, February 16th. Finally, Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and set a $75.00 target price on the stock. in a report on Tuesday, February 28th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $71.25.
Several institutional investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new position in Blackbaud during the fourth quarter valued at approximately $129,000. Pacad Investment Ltd. acquired a new stake in shares of Blackbaud during the fourth quarter worth about $173,000. World Asset Management Inc acquired a new stake in shares of Blackbaud during the third quarter worth about $210,000. Flinton Capital Management LLC acquired a new stake in shares of Blackbaud during the fourth quarter worth about $210,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Blackbaud during the third quarter worth about $223,000.
Blackbaud Company Profile
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.