William Blair Brokers Lower Earnings Estimates for Blackbaud, Inc. (BLKB)

Blackbaud, Inc. (NASDAQ:BLKB) – William Blair reduced their Q3 2018 earnings estimates for shares of Blackbaud in a research note issued on Tuesday, October 9th. William Blair analyst J. Furby now anticipates that the technology company will earn $0.32 per share for the quarter, down from their prior forecast of $0.46. William Blair currently has a “Market Perform” rating on the stock.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Monday, July 30th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Blackbaud had a net margin of 8.14% and a return on equity of 27.70%. The company had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $214.80 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. DA Davidson cut their price objective on shares of Blackbaud from $105.00 to $82.00 and set a “hold” rating on the stock in a report on Tuesday. ValuEngine cut shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC began coverage on shares of Blackbaud in a report on Wednesday, July 18th. They set a “hold” rating on the stock. BidaskClub raised shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Saturday, September 15th. Finally, Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $98.50.

BLKB stock opened at $74.08 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.77 and a current ratio of 0.77. Blackbaud has a twelve month low of $69.62 and a twelve month high of $120.35. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 46.19, a P/E/G ratio of 4.69 and a beta of 0.62.

Several institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Blackbaud by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 500 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Blackbaud by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 27,820 shares of the technology company’s stock valued at $2,850,000 after acquiring an additional 500 shares during the period. Greenwood Capital Associates LLC increased its holdings in shares of Blackbaud by 23.7% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,737 shares of the technology company’s stock valued at $280,000 after acquiring an additional 525 shares during the period. Bank of Montreal Can increased its holdings in shares of Blackbaud by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 15,028 shares of the technology company’s stock valued at $1,540,000 after acquiring an additional 609 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Blackbaud by 1.1% in the 2nd quarter. Retirement Systems of Alabama now owns 62,836 shares of the technology company’s stock valued at $6,438,000 after acquiring an additional 655 shares during the period.

In other news, Director Andrew M. Leitch sold 3,000 shares of Blackbaud stock in a transaction on Friday, August 10th. The shares were sold at an average price of $95.72, for a total value of $287,160.00. Following the transaction, the director now directly owns 24,457 shares of the company’s stock, valued at approximately $2,341,024.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George H. Ellis sold 2,652 shares of Blackbaud stock in a transaction on Monday, August 13th. The shares were sold at an average price of $96.16, for a total transaction of $255,016.32. Following the completion of the transaction, the director now directly owns 7,730 shares in the company, valued at $743,316.80. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th were issued a $0.12 dividend. The ex-dividend date was Monday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. 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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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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