Blackbaud (BLKB) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research report report published on Tuesday.

Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Blackbaud from a hold rating to a buy rating in a research report on Monday, April 2nd. Stifel Nicolaus boosted their target price on shares of Blackbaud from $105.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, March 22nd. DA Davidson set a $110.00 target price on shares of Blackbaud and gave the stock a hold rating in a research report on Thursday, March 15th. Zacks Investment Research downgraded shares of Blackbaud from a buy rating to a hold rating in a research report on Tuesday, April 10th. Finally, B. Riley boosted their target price on shares of Blackbaud from $90.00 to $92.00 and gave the stock a neutral rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Blackbaud presently has an average rating of Hold and a consensus price target of $103.14.

NASDAQ:BLKB opened at $107.93 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.33. The stock has a market cap of $5.36 billion, a PE ratio of 68.05, a price-to-earnings-growth ratio of 4.62 and a beta of 0.63. Blackbaud has a one year low of $81.64 and a one year high of $116.07.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, April 30th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $204.18 million during the quarter, compared to the consensus estimate of $204.29 million. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. equities analysts predict that Blackbaud will post 2.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 25th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 24th. Blackbaud’s payout ratio is 30.19%.

In other Blackbaud news, SVP Jon W. Olson sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $106.00, for a total value of $212,000.00. Following the completion of the sale, the senior vice president now directly owns 41,169 shares of the company’s stock, valued at approximately $4,363,914. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon W. Olson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $105.00, for a total transaction of $105,000.00. Following the completion of the sale, the senior vice president now directly owns 41,169 shares of the company’s stock, valued at $4,322,745. The disclosure for this sale can be found here. Insiders sold a total of 14,669 shares of company stock valued at $1,535,745 over the last ninety days. 1.55% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Blackbaud by 2.3% in the 1st 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 grew its position in Blackbaud by 0.5% in the 4th 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. grew its position in Blackbaud by 9.6% in the 1st 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. grew its position in Blackbaud by 2.3% in the 1st 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, Principal Financial Group Inc. grew its position in Blackbaud by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 510,535 shares of the technology company’s stock worth $51,978,000 after purchasing an additional 3,697 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.

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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