Blackbaud (NASDAQ:BLKB) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
A number of other brokerages have also recently commented on BLKB. DA Davidson started coverage on shares of Blackbaud in a research note on Friday, February 2nd. They set a “neutral” rating and a $95.00 price objective on the stock. Zacks Investment Research raised shares of Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, February 8th. B. Riley raised their price objective on shares of Blackbaud from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Citigroup set a $112.00 price objective on shares of Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus raised their price objective on shares of Blackbaud from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $97.50.
Blackbaud (NASDAQ:BLKB) opened at $103.25 on Friday. Blackbaud has a 1 year low of $71.48 and a 1 year high of $104.55. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market cap of $4,970.00, a P/E ratio of 107.55, a price-to-earnings-growth ratio of 5.12 and a beta of 0.75.
In related news, EVP Brian Boruff sold 8,800 shares of Blackbaud stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $103.14, for a total value of $907,632.00. Following the sale, the executive vice president now owns 54,831 shares of the company’s stock, valued at approximately $5,655,269.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin W. Mooney sold 2,710 shares of Blackbaud stock in a transaction on Friday, February 16th. The shares were sold at an average price of $99.14, for a total transaction of $268,669.40. The disclosure for this sale can be found here. Insiders have sold a total of 76,492 shares of company stock worth $7,470,187 in the last ninety days. Corporate insiders own 2.19% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BLKB. Oakbrook Investments LLC acquired a new stake in Blackbaud in the 3rd quarter valued at $281,000. Nationwide Fund Advisors grew its stake in Blackbaud by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 439,448 shares of the technology company’s stock valued at $38,584,000 after acquiring an additional 7,942 shares during the period. First Trust Advisors LP grew its stake in Blackbaud by 17.1% in the 3rd quarter. First Trust Advisors LP now owns 36,872 shares of the technology company’s stock valued at $3,237,000 after acquiring an additional 5,380 shares during the period. Aperio Group LLC grew its stake in Blackbaud by 5.2% in the 3rd quarter. Aperio Group LLC now owns 23,114 shares of the technology company’s stock valued at $2,029,000 after acquiring an additional 1,137 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in Blackbaud in the 3rd quarter valued at $389,000.
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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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