Blackbaud, Inc. (NASDAQ:BLKB) – Stock analysts at DA Davidson lifted their FY2018 earnings estimates for shares of Blackbaud in a research report issued to clients and investors on Tuesday, October 30th. DA Davidson analyst R. Jaluria now expects that the technology company will post earnings per share of $1.68 for the year, up from their prior estimate of $1.64. DA Davidson has a “Hold” rating and a $82.00 price target on the stock. DA Davidson also issued estimates for Blackbaud’s Q3 2019 earnings at $0.47 EPS, FY2019 earnings at $1.73 EPS, Q3 2020 earnings at $0.48 EPS and FY2020 earnings at $1.82 EPS.
BLKB has been the topic of several other research reports. TheStreet lowered shares of Blackbaud from a “b” rating to a “c+” rating in a report on Wednesday, October 10th. William Blair lowered shares of Blackbaud from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 31st. KeyCorp started coverage on shares of Blackbaud in a report on Monday, July 23rd. They issued a “sector weight” rating on the stock. BidaskClub lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, Robert W. Baird lowered their price target on shares of Blackbaud from $105.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, October 12th. Three analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $94.71.
Shares of Blackbaud stock opened at $73.30 on Friday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 5.19 and a beta of 1.11. 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 52-week low of $65.51 and a 52-week high of $120.35.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. The business 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%. Blackbaud’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.
Several large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake 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 purchasing an additional 500 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 500 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake 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 purchasing an additional 525 shares in the last quarter. Bank of Montreal Can boosted its stake 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 purchasing an additional 609 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake 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 purchasing an additional 655 shares in the last quarter.
In other news, Director Andrew M. Leitch sold 3,000 shares of the business’s 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 sale, the director now 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 can be accessed through the SEC website. Also, Director George H. Ellis sold 2,652 shares of the business’s 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 sale, the director now owns 7,730 shares in the company, valued at approximately $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 declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Wednesday, November 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, November 27th. Blackbaud’s dividend payout ratio (DPR) is presently 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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