Analysts Set Expectations for Blackbaud, Inc.’s Q1 2019 Earnings (BLKB)

Blackbaud, Inc. (NASDAQ:BLKB) – Analysts at B. Riley issued their Q1 2019 earnings estimates for shares of Blackbaud in a research note issued to investors on Thursday. B. Riley analyst K. Liu forecasts that the technology company will post earnings per share of $0.51 for the quarter. B. Riley has a “Neutral” rating and a $90.00 price target on the stock. B. Riley also issued estimates for Blackbaud’s Q2 2019 earnings at $0.58 EPS.

A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Thursday, February 8th. DA Davidson began coverage on shares of Blackbaud in a report on Friday, February 2nd. They set a “neutral” rating and a $95.00 target price for the company. Robert W. Baird upped their target price on shares of Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Stifel Nicolaus upped their target price on shares of Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Citigroup set a $112.00 target price on shares of Blackbaud and gave the company a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $95.33.

Shares of Blackbaud (BLKB) traded up $1.46 during trading on Monday, reaching $95.20. 244,900 shares of the company were exchanged, compared to its average volume of 303,711. The company has a market capitalization of $4,507.92, a P/E ratio of 70.80, a price-to-earnings-growth ratio of 4.86 and a beta of 0.75. Blackbaud has a 12 month low of $68.61 and a 12 month high of $104.55. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40.

A number of hedge funds have recently added to or reduced their stakes in BLKB. QS Investors LLC lifted its position in Blackbaud by 157.1% during the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,100 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Blackbaud in the 4th quarter worth about $157,000. First Republic Investment Management Inc. purchased a new position in Blackbaud in the 4th quarter worth about $204,000. Verition Fund Management LLC purchased a new position in Blackbaud in the 2nd quarter worth about $228,000. Finally, M&T Bank Corp purchased a new position in Blackbaud in the 2nd quarter worth about $233,000.

In related news, CFO Anthony W. Boor sold 10,954 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the completion of the transaction, the chief financial officer now owns 125,224 shares in the company, valued at $11,823,650.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Boruff sold 800 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total transaction of $83,160.00. Following the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at approximately $5,287,104.90. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by corporate insiders.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. Blackbaud’s dividend payout ratio is 35.04%.

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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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