Blackbaud (NASDAQ:BLKB) Sees Strong Trading Volume - Here's Why

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 206,437 shares changed hands during trading, an increase of 41% from the previous session's volume of 145,931 shares.The stock last traded at $77.49 and had previously closed at $78.36.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLKB. Baird R W cut shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Raymond James cut their price objective on Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Stifel Nicolaus increased their price objective on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Finally, Robert W. Baird cut Blackbaud from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Blackbaud presently has an average rating of "Hold" and a consensus target price of $86.67.

Blackbaud Price Performance

The stock has a market capitalization of $3.82 billion, a P/E ratio of 76.00 and a beta of 1.08. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The business has a fifty day simple moving average of $79.08 and a 200 day simple moving average of $80.36.

Blackbaud (NASDAQ:BLKB - Get Free Report) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company had revenue of $286.70 million for the quarter, compared to analysts' expectations of $293.74 million. During the same quarter in the prior year, the company earned $0.65 EPS. The company's revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Blackbaud, Inc. will post 2.6 earnings per share for the current year.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 12,325 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $83.25, for a total value of $1,026,056.25. Following the completion of the transaction, the chief executive officer now owns 389,539 shares of the company's stock, valued at approximately $32,429,121.75. This represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total transaction of $848,500.00. Following the transaction, the chief financial officer now directly owns 140,262 shares of the company's stock, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,923 shares of company stock worth $3,737,450. Company insiders own 1.95% of the company's stock.

Hedge Funds Weigh In On Blackbaud

A number of institutional investors have recently modified their holdings of BLKB. TD Private Client Wealth LLC lifted its stake in shares of Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company's stock worth $99,000 after buying an additional 347 shares during the period. Blue Trust Inc. boosted its position in Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company's stock worth $135,000 after acquiring an additional 1,047 shares during the last quarter. KBC Group NV boosted its holdings in Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company's stock valued at $124,000 after purchasing an additional 424 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud in the 3rd quarter valued at approximately $142,000. Finally, Heritage Family Offices LLP increased its stake in Blackbaud by 5.9% during the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company's stock worth $221,000 after buying an additional 166 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.

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.

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