Blackbaud, Inc. (NASDAQ:BLKB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $86.67.

Several research analysts have recently issued reports on the company. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Raymond James decreased their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

Blackbaud Trading Down 0.8 %

Shares of NASDAQ:BLKB opened at $83.23 on Tuesday. Blackbaud has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The company has a market cap of $4.22 billion, a PE ratio of 81.60 and a beta of 1.03. The company’s 50-day moving average price is $83.65 and its 200 day moving average price is $80.39.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data 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 business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Blackbaud will post 2.6 earnings per share for the current year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Anthony W. Boor sold 10,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total value of $848,500.00. Following the transaction, the chief financial officer now owns 140,262 shares of the company’s stock, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the sale, the senior vice president now directly owns 24,025 shares of the company’s stock, valued at approximately $2,042,125. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,394 shares of company stock valued at $4,373,270. 1.95% of the stock is owned by insiders.

Institutional Trading of Blackbaud

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Blackbaud by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 388,009 shares of the technology company’s stock worth $28,768,000 after acquiring an additional 10,555 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Blackbaud by 1,107.5% during the 1st quarter. Kennedy Capital Management LLC now owns 33,908 shares of the technology company’s stock valued at $2,514,000 after purchasing an additional 31,100 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Blackbaud in the second quarter valued at $4,262,000. Ancora Advisors LLC acquired a new stake in shares of Blackbaud in the first quarter worth $2,081,000. Finally, Kestrel Investment Management Corp purchased a new position in shares of Blackbaud during the second quarter valued at $4,795,000. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.