Blackbaud (NASDAQ:BLKB) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.
BLKB has been the topic of a number of other research reports. Citigroup assumed coverage on shares of Blackbaud in a report on Friday, September 22nd. They issued a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Monday, October 30th. B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a report on Thursday, October 26th. Robert W. Baird set a $85.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a report on Sunday, October 1st. Finally, Dougherty & Co assumed coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $94.75.
Blackbaud (BLKB) opened at $96.32 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. Blackbaud has a 12-month low of $61.98 and a 12-month high of $104.55. The company has a market cap of $4,587.27, a PE ratio of 56.78, a PEG ratio of 5.86 and a beta of 0.82.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm had revenue of $195.51 million for the quarter, compared to analysts’ expectations of $196.35 million. During the same quarter last year, the company posted $0.45 earnings per share. Blackbaud’s revenue was up 6.8% on a year-over-year basis. research analysts forecast that Blackbaud will post 1.57 EPS for the current fiscal year.
In other news, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total transaction of $451,066.00. Following the sale, the executive vice president now owns 71,655 shares of the company’s stock, valued at $7,237,155. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin W. Mooney sold 900 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total value of $91,053.00. Following the sale, the executive vice president now directly owns 77,711 shares in the company, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,655 shares of company stock worth $972,923. Corporate insiders own 2.19% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BLKB. Russell Investments Group Ltd. acquired a new position in shares of Blackbaud during the second quarter valued at approximately $1,476,000. Strs Ohio increased its stake in shares of Blackbaud by 11.9% during the second quarter. Strs Ohio now owns 7,500 shares of the technology company’s stock valued at $643,000 after acquiring an additional 800 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Blackbaud by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 4,234 shares of the technology company’s stock valued at $363,000 after acquiring an additional 54 shares during the period. Bessemer Group Inc. increased its stake in shares of Blackbaud by 148.7% during the second quarter. Bessemer Group Inc. now owns 12,905 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 7,716 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Blackbaud by 0.8% during the second quarter. World Asset Management Inc now owns 3,043 shares of the technology company’s stock valued at $261,000 after acquiring an additional 24 shares during the period.
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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).
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