Equities analysts predict that Blackbaud, Inc. (NASDAQ:BLKB) will post sales of $204.15 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Blackbaud’s earnings. The highest sales estimate is $205.20 million and the lowest is $203.26 million. Blackbaud posted sales of $183.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The firm is expected to issue its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that Blackbaud will report full-year sales of $204.15 million for the current financial year, with estimates ranging from $877.00 million to $882.00 million. For the next year, analysts forecast that the firm will report sales of $961.89 million per share, with estimates ranging from $949.00 million to $980.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Blackbaud.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Blackbaud had a return on equity of 29.21% and a net margin of 8.36%. The company had revenue of $216.98 million during the quarter, compared to analysts’ expectations of $217.29 million.
A number of equities analysts recently commented on the company. Evercore ISI cut Blackbaud from an “in” rating to an “underperform” rating in a report on Monday. BidaskClub upgraded Blackbaud from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Zacks Investment Research cut Blackbaud from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus raised their target price on Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, B. Riley raised their target price on Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $97.50.
Blackbaud (NASDAQ:BLKB) opened at $107.54 on Wednesday. Blackbaud has a twelve month low of $74.46 and a twelve month high of $116.07. The company has a market capitalization of $5,268.39, a PE ratio of 66.01, a P/E/G ratio of 5.54 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Tuesday, February 27th. Blackbaud’s payout ratio is presently 35.04%.
In other news, CFO Anthony W. Boor sold 10,954 shares of Blackbaud stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.42, for a total value 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 approximately $11,823,650.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew M. Leitch sold 10,000 shares of Blackbaud stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $102.96, for a total value of $1,029,600.00. Following the completion of the transaction, the director now owns 28,848 shares of the company’s stock, valued at approximately $2,970,190.08. The disclosure for this sale can be found here. Insiders sold a total of 94,612 shares of company stock valued at $9,344,203 in the last quarter. Company insiders own 2.19% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BLKB. BlackRock Inc. boosted its stake in shares of Blackbaud by 1.7% in the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock valued at $477,772,000 after buying an additional 85,826 shares during the period. Guggenheim Capital LLC lifted its stake in Blackbaud by 464.6% during the fourth quarter. Guggenheim Capital LLC now owns 94,602 shares of the technology company’s stock worth $8,939,000 after purchasing an additional 77,847 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Blackbaud by 11.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock worth $69,001,000 after purchasing an additional 72,430 shares during the last quarter. State of Tennessee Treasury Department purchased a new stake in Blackbaud during the fourth quarter worth approximately $6,614,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Blackbaud during the fourth quarter worth approximately $4,887,000.
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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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