Wall Street brokerages expect Blackbaud, Inc. (NASDAQ:BLKB) to announce $214.19 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Blackbaud’s earnings. The highest sales estimate is $218.10 million and the lowest is $212.00 million. Blackbaud reported sales of $192.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The company is expected to issue its next quarterly earnings results 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 expect that the business 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 a mean average based on a survey of sell-side analysts that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last issued 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. Blackbaud had a net margin of 8.92% and a return on equity of 28.66%. The company had revenue of $204.18 million for the quarter, compared to analyst estimates of $204.29 million. During the same period in the previous year, the firm earned $0.50 EPS. The business’s revenue was up 10.3% on a year-over-year basis.
BLKB has been the topic of several recent research reports. Zacks Investment Research lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, April 10th. BidaskClub lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. Stifel Nicolaus boosted their price objective 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. ValuEngine upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, DA Davidson set a $110.00 price objective on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $105.33.
In related news, Director Joyce Nelson sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $101.75, for a total value of $203,500.00. Following the completion of the transaction, the director now owns 13,906 shares of the company’s stock, valued at approximately $1,414,935.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 9,669 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $1,015,245.00. Following the completion of the transaction, the executive vice president now directly owns 99,226 shares of the company’s stock, valued at approximately $10,418,730. 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 in the last three months. 1.55% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in BLKB. Teacher Retirement System of Texas increased its stake in shares of Blackbaud by 317.3% during the 4th quarter. Teacher Retirement System of Texas now owns 16,521 shares of the technology company’s stock valued at $1,561,000 after acquiring an additional 12,562 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Blackbaud by 10.4% during the 4th quarter. California Public Employees Retirement System now owns 79,925 shares of the technology company’s stock valued at $7,552,000 after acquiring an additional 7,559 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Blackbaud by 8.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 114,092 shares of the technology company’s stock valued at $10,781,000 after acquiring an additional 9,017 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Blackbaud by 27.3% during the 4th quarter. Arizona State Retirement System now owns 34,614 shares of the technology company’s stock valued at $3,271,000 after acquiring an additional 7,420 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Blackbaud by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock valued at $477,772,000 after acquiring an additional 85,826 shares during the last quarter.
Shares of Blackbaud traded up $2.58, hitting $101.42, on Monday, MarketBeat Ratings reports. The company’s stock had a trading volume of 176,141 shares, compared to its average volume of 274,441. Blackbaud has a 52-week low of $81.64 and a 52-week high of $116.07. 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 firm has a market capitalization of $5.00 billion, a PE ratio of 62.16, a P/E/G ratio of 4.30 and a beta of 0.63.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 25th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, May 24th. Blackbaud’s payout ratio is 30.19%.
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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