Blackbaud (NASDAQ:BLKB) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Several other research firms also recently commented on BLKB. B. Riley set a $82.00 price objective on Blackbaud and gave the company a “hold” rating in a research note on Thursday, October 19th. Robert W. Baird upped their price objective on Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Citigroup set a $112.00 price objective on Blackbaud and gave the company a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Dougherty & Co initiated coverage on Blackbaud in a research note on Tuesday, October 31st. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $94.75.
Shares of Blackbaud (BLKB) opened at $95.80 on Friday. The stock has a market capitalization of $4,607.02, a PE ratio of 57.02, a P/E/G ratio of 5.14 and a beta of 0.83. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.63 and a quick ratio of 0.63. Blackbaud has a 1 year low of $61.98 and a 1 year high of $104.55.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $195.51 million during the quarter, compared to analysts’ expectations of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. research analysts anticipate that Blackbaud will post 1.57 earnings per share for the current year.
In other news, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the transaction, the chief financial officer now directly owns 105,342 shares of the company’s stock, valued at approximately $10,350,904.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin W. Mooney sold 4,466 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total value of $451,066.00. Following the transaction, the executive vice president now directly owns 71,655 shares of the company’s stock, valued at $7,237,155. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,655 shares of company stock valued at $972,923. 2.19% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. ETF Managers Group LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth approximately $125,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Blackbaud by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after buying an additional 39 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Blackbaud during the 4th quarter worth approximately $157,000. QS Investors LLC raised its stake in shares of Blackbaud by 157.1% during the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after buying an additional 1,100 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Blackbaud during the 2nd quarter worth approximately $228,000.
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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).
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