Blackbaud, Inc. (NASDAQ:BLKB) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $91.17.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson upped their target price on Blackbaud to $75.00 and gave the stock a “neutral” rating in a research report on Friday, March 29th. Zacks Investment Research downgraded Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Stephens downgraded Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price target for the company. in a report on Wednesday, April 3rd.
In other Blackbaud news, EVP Kevin W. Mooney sold 8,858 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $80.00, for a total transaction of $708,640.00. Following the transaction, the executive vice president now owns 92,901 shares of the company’s stock, valued at approximately $7,432,080. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy C. K. Chou sold 400 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $76.98, for a total value of $30,792.00. Following the transaction, the director now directly owns 20,114 shares in the company, valued at approximately $1,548,375.72. The disclosure for this sale can be found here. Corporate insiders own 1.55% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in Blackbaud by 1.0% during the 1st quarter. Nordea Investment Management AB now owns 47,197 shares of the technology company’s stock worth $3,763,000 after buying an additional 462 shares during the last quarter. FMR LLC lifted its holdings in Blackbaud by 230.0% during the 1st quarter. FMR LLC now owns 538,047 shares of the technology company’s stock worth $42,898,000 after buying an additional 374,999 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in Blackbaud during the 1st quarter worth approximately $223,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Blackbaud by 66.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,067 shares of the technology company’s stock worth $166,000 after buying an additional 825 shares during the last quarter. Finally, One Wealth Advisors LLC bought a new position in Blackbaud during the 1st quarter worth approximately $152,000.
Shares of NASDAQ BLKB traded down $0.64 on Friday, hitting $79.56. The company had a trading volume of 101,179 shares, compared to its average volume of 290,202. Blackbaud has a 12-month low of $58.23 and a 12-month high of $120.35. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 7.40 and a beta of 1.21.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Tuesday, April 30th. The technology company reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Blackbaud had a return on equity of 21.47% and a net margin of 3.02%. The company had revenue of $215.83 million during the quarter, compared to the consensus estimate of $212.32 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Research analysts expect that Blackbaud will post 1.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, May 24th. Blackbaud’s dividend payout ratio is currently 25.67%.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.
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