Blackbaud, Inc. (NASDAQ:BLKB) – Stock analysts at DA Davidson lowered their Q4 2018 earnings per share estimates for Blackbaud in a research note issued to investors on Tuesday, October 30th. DA Davidson analyst R. Jaluria now forecasts that the technology company will post earnings of $0.33 per share for the quarter, down from their previous forecast of $0.39. DA Davidson currently has a “Hold” rating and a $82.00 price target on the stock. DA Davidson also issued estimates for Blackbaud’s Q4 2019 earnings at $0.54 EPS and Q1 2020 earnings at $0.41 EPS.
Several other research analysts have also issued reports on the stock. BidaskClub raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. Stifel Nicolaus lowered shares of Blackbaud from a “buy” rating to a “hold” rating and reduced their target price for the company from $120.00 to $88.00 in a research note on Tuesday, October 9th. JMP Securities lowered shares of Blackbaud from an “outperform” rating to a “market perform” rating and set a $116.00 target price on the stock. in a research note on Tuesday, October 9th. Evercore ISI reaffirmed a “sell” rating and issued a $100.00 target price on shares of Blackbaud in a research note on Sunday, August 5th. Finally, Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.71.
Shares of NASDAQ BLKB opened at $73.97 on Thursday. The stock has a market capitalization of $3.52 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 5.28 and a beta of 0.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.77 and a current ratio of 0.66. Blackbaud has a 1 year low of $65.51 and a 1 year high of $120.35.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.50 million. Blackbaud had a net margin of 7.84% and a return on equity of 25.79%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS.
Several large investors have recently made changes to their positions in BLKB. Smithfield Trust Co. raised its position in shares of Blackbaud by 2,492.5% in the 2nd quarter. Smithfield Trust Co. now owns 1,037 shares of the technology company’s stock valued at $106,000 after acquiring an additional 997 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $129,000. Global X Management Co LLC acquired a new stake in shares of Blackbaud in the 2nd quarter valued at approximately $163,000. First Republic Investment Management Inc. acquired a new stake in Blackbaud during the 2nd quarter worth approximately $261,000. Finally, ING Groep NV acquired a new stake in Blackbaud during the 2nd quarter worth approximately $270,000.
In related news, Director Andrew M. Leitch sold 3,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 24,457 shares in the company, 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 the stock in a transaction that occurred 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 sale, the director now owns 7,730 shares in the company, valued at $743,316.80. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be given a $0.12 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.65%. Blackbaud’s dividend payout ratio is 30.19%.
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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