Blackbaud, Inc. (BLKB) Expected to Announce Quarterly Sales of $216.79 Million

Wall Street brokerages forecast that Blackbaud, Inc. (NASDAQ:BLKB) will report $216.79 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Blackbaud’s earnings, with the lowest sales estimate coming in at $210.58 million and the highest estimate coming in at $219.32 million. Blackbaud posted sales of $198.31 million in the same quarter last year, which suggests a positive year over year growth rate of 9.3%. The company is expected to issue its next quarterly earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that Blackbaud will report full-year sales of $216.79 million for the current fiscal year, with estimates ranging from $784.73 million to $791.34 million. For the next fiscal year, analysts forecast that the firm will report sales of $871.31 million per share, with estimates ranging from $861.00 million to $879.61 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Blackbaud.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. The business had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share.

A number of equities analysts recently issued reports on the company. BidaskClub downgraded Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Dougherty & Co started coverage on Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating for the company. Citigroup set a $112.00 price objective on Blackbaud and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, B. Riley set a $82.00 price objective on Blackbaud and gave the company a “hold” rating in a research note on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Blackbaud currently has a consensus rating of “Hold” and a consensus target price of $94.75.

Shares of Blackbaud (NASDAQ:BLKB) traded up $0.12 on Friday, reaching $94.54. The company had a trading volume of 148,600 shares, compared to its average volume of 187,333. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $4,540.62, a P/E ratio of 86.73, a price-to-earnings-growth ratio of 5.07 and a beta of 0.83. Blackbaud has a 52-week low of $61.98 and a 52-week high of $104.55.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.48 annualized dividend and a yield of 0.51%. Blackbaud’s dividend payout ratio (DPR) is presently 44.04%.

In related news, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.26, for a total transaction of $195,439.14. Following the transaction, the chief financial officer now directly owns 105,342 shares in the company, valued at $10,350,904.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Boruff sold 800 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total value of $83,160.00. Following the transaction, the executive vice president now owns 50,862 shares in the company, valued at $5,287,104.90. The disclosure for this sale can be found here. Insiders have sold 9,655 shares of company stock worth $972,923 over the last quarter. 2.19% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Blackbaud by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after purchasing an additional 51,747 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Blackbaud in the 2nd quarter worth about $1,476,000. Nationwide Fund Advisors raised its holdings in shares of Blackbaud by 27.2% in the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock worth $37,002,000 after purchasing an additional 92,379 shares during the period. Sciencast Management LP purchased a new position in shares of Blackbaud in the 2nd quarter worth about $403,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Blackbaud by 28.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock worth $1,277,000 after purchasing an additional 3,190 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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