Insider Selling: Blackbaud, Inc. (BLKB) Insider Sells 28,839 Shares of Stock

Blackbaud, Inc. (NASDAQ:BLKB) insider Michael P. Gianoni sold 28,839 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $96.84, for a total transaction of $2,792,768.76. Following the completion of the transaction, the insider now owns 332,419 shares of the company’s stock, valued at $32,191,455.96. The sale was disclosed in a filing with the SEC, which is available at this link.

Blackbaud, Inc. (NASDAQ:BLKB) traded up $1.82 during midday trading on Friday, reaching $103.25. The company had a trading volume of 197,078 shares, compared to its average volume of 369,754. Blackbaud, Inc. has a 1 year low of $71.48 and a 1 year high of $104.55. The firm has a market cap of $4,876.56, a P/E ratio of 75.36, a P/E/G ratio of 5.13 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio (DPR) is presently 35.04%.

Several research analysts have commented on BLKB shares. BidaskClub lowered shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Monday, October 30th. Citigroup set a $112.00 price objective on shares of Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. Dougherty & Co initiated coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating for the company. Finally, DA Davidson initiated coverage on shares of Blackbaud in a report on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $97.50.

Several institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new stake in shares of Blackbaud during the 4th quarter worth about $157,000. QS Investors LLC boosted its stake in shares of Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after buying an additional 1,100 shares during the period. First Republic Investment Management Inc. purchased a new position in shares of Blackbaud in the 4th quarter valued at about $204,000. Zeke Capital Advisors LLC purchased a new position in shares of Blackbaud in the 4th quarter valued at about $213,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Blackbaud in the 4th quarter valued at about $217,000.

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Blackbaud Company Profile

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).

Insider Buying and Selling by Quarter for Blackbaud (NASDAQ:BLKB)

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