Wall Street brokerages expect Blackbaud, Inc. (NASDAQ:BLKB) to announce $214.19 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Blackbaud’s earnings. The lowest sales estimate is $212.00 million and the highest is $218.10 million. Blackbaud posted sales of $192.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The company is expected to announce its next quarterly earnings report on Monday, July 30th.
According to Zacks, analysts expect that Blackbaud will report full-year sales of $879.94 million for the current fiscal year, with estimates ranging from $876.70 million to $883.23 million. For the next fiscal year, analysts forecast that the company will post sales of $964.00 million per share, with estimates ranging from $955.13 million to $983.29 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Blackbaud.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, April 30th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The business had revenue of $204.18 million for the quarter, compared to analysts’ expectations of $204.29 million. During the same period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis.
A number of analysts have recently weighed in on BLKB shares. Stifel Nicolaus increased their price objective on Blackbaud from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 22nd. DA Davidson started coverage on Blackbaud in a research note on Friday, February 2nd. They set a “neutral” rating and a $95.00 price objective for the company. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, February 8th. Finally, B. Riley increased their price objective on Blackbaud from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Blackbaud presently has a consensus rating of “Hold” and an average price target of $103.14.
Shares of NASDAQ:BLKB traded down $0.32 during trading on Monday, reaching $98.10. 338,365 shares of the company traded hands, compared to its average volume of 312,123. The firm has a market cap of $4.78 billion, a PE ratio of 61.70, a price-to-earnings-growth ratio of 4.14 and a beta of 0.66. Blackbaud has a 52-week low of $81.61 and a 52-week high of $116.07. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.71 and a current ratio of 0.71.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, May 24th. Blackbaud’s payout ratio is 30.19%.
In related news, EVP Kevin W. Mooney sold 6,020 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $104.41, for a total value of $628,548.20. Following the completion of the sale, the executive vice president now owns 79,476 shares of the company’s stock, valued at $8,298,089.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew M. Leitch sold 10,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $102.96, for a total value of $1,029,600.00. Following the completion of the sale, the director now directly 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 19,520 shares of company stock valued at $2,016,478 in the last ninety days. 1.55% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in BLKB. BlackRock Inc. raised its holdings in Blackbaud by 2.3% in the first quarter. BlackRock Inc. now owns 5,175,126 shares of the technology company’s stock worth $526,879,000 after purchasing an additional 118,790 shares in the last quarter. Atlanta Capital Management Co. L L C raised its holdings in Blackbaud by 0.5% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 4,303,709 shares of the technology company’s stock worth $406,657,000 after purchasing an additional 19,346 shares in the last quarter. Select Equity Group L.P. raised its holdings in Blackbaud by 9.6% in the first quarter. Select Equity Group L.P. now owns 2,634,891 shares of the technology company’s stock worth $268,258,000 after purchasing an additional 231,010 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Blackbaud by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 1,006,064 shares of the technology company’s stock worth $102,427,000 after purchasing an additional 22,924 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings in Blackbaud by 11.0% in 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 in the last quarter.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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