BidaskClub upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.
BLKB has been the subject of a number of other research reports. Stephens downgraded Blackbaud from an overweight rating to an equal weight rating and set a $86.00 price objective for the company. in a research report on Wednesday, April 3rd. Zacks Investment Research downgraded Blackbaud from a buy rating to a hold rating in a research report on Friday, May 10th. Finally, ValuEngine upgraded Blackbaud from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $88.88.
Shares of BLKB stock traded down $1.63 during mid-day trading on Wednesday, reaching $88.48. The stock had a trading volume of 274,677 shares, compared to its average volume of 213,031. The company has a 50 day moving average of $83.51. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.75. Blackbaud has a one year low of $58.23 and a one year high of $105.69. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 8.91 and a beta of 1.21.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.37. Blackbaud had a return on equity of 20.51% and a net margin of 3.04%. The company had revenue of $226.40 million during the quarter, compared to the consensus estimate of $223.53 million. During the same quarter last year, the company earned $0.69 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Blackbaud will post 1.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.
In related news, EVP Kevin W. Mooney sold 8,858 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 92,901 shares in the company, valued at approximately $7,432,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy C. K. Chou sold 400 shares of the firm’s 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 owns 20,114 shares of the company’s stock, valued at approximately $1,548,375.72. The disclosure for this sale can be found here. 1.56% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Hodges Capital Management Inc. bought a new position in Blackbaud in the 1st quarter valued at $3,272,000. Janus Henderson Group PLC increased its stake in shares of Blackbaud by 21.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,782,583 shares of the technology company’s stock valued at $381,310,000 after buying an additional 849,217 shares during the period. Campbell Newman Asset Management Inc. increased its stake in shares of Blackbaud by 2.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 8,560 shares of the technology company’s stock valued at $682,000 after buying an additional 204 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Blackbaud in the 1st quarter valued at $217,000. Finally, New York State Common Retirement Fund increased its stake in shares of Blackbaud by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 632,519 shares of the technology company’s stock valued at $50,431,000 after buying an additional 6,679 shares during the period.
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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