Blackbaud Target of Unusually Large Options Trading (BLKB)

Blackbaud, Inc. (NASDAQ:BLKB) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 798 put options on the company. This is an increase of approximately 1,128% compared to the typical daily volume of 65 put options.

In other news, insider Michael P. Gianoni sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $76.35, for a total transaction of $2,290,500.00. Following the completion of the sale, the insider now owns 276,614 shares in the company, valued at $21,119,478.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jon W. Olson sold 10,000 shares of Blackbaud stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $77.07, for a total value of $770,700.00. Following the sale, the senior vice president now directly owns 39,571 shares of the company’s stock, valued at $3,049,736.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,606 shares of company stock worth $3,808,739. Insiders own 1.55% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Blackbaud by 1.2% in the fourth quarter. BlackRock Inc. now owns 5,632,690 shares of the technology company’s stock valued at $354,295,000 after acquiring an additional 67,260 shares during the last quarter. Janus Henderson Group PLC increased its stake in Blackbaud by 21.6% in the first quarter. Janus Henderson Group PLC now owns 4,782,583 shares of the technology company’s stock valued at $381,310,000 after acquiring an additional 849,217 shares during the last quarter. Atlanta Capital Management Co. L L C increased its stake in Blackbaud by 8.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock valued at $291,799,000 after acquiring an additional 355,998 shares during the last quarter. Wellington Management Group LLP increased its stake in Blackbaud by 6.5% in the first quarter. Wellington Management Group LLP now owns 4,594,630 shares of the technology company’s stock valued at $366,330,000 after acquiring an additional 278,844 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Blackbaud by 2.3% in the third quarter. Vanguard Group Inc now owns 4,493,319 shares of the technology company’s stock valued at $455,982,000 after acquiring an additional 99,637 shares during the last quarter.

Shares of NASDAQ:BLKB traded down $0.76 during midday trading on Friday, reaching $80.18. The company’s stock had a trading volume of 156,354 shares, compared to its average volume of 306,447. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 42.88, a P/E/G ratio of 7.37 and a beta of 1.27. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.69 and a quick ratio of 0.69. Blackbaud has a fifty-two week low of $58.23 and a fifty-two week high of $120.35.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, April 30th. The technology company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $215.83 million during the quarter, compared to analyst estimates of $212.32 million. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Analysts anticipate that Blackbaud will post 1.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. Blackbaud’s dividend payout ratio is presently 25.67%.

A number of equities analysts have commented on BLKB shares. BidaskClub lowered Blackbaud from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Stephens lowered Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price target on the stock. in a research note on Wednesday, April 3rd. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, DA Davidson boosted their price objective on Blackbaud to $75.00 and gave the stock a “neutral” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $88.14.

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Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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