Blackbaud (NASDAQ:BLKB) had its price target trimmed by Robert W. Baird from $105.00 to $82.00 in a report published on Friday. The brokerage currently has a neutral rating on the technology company’s stock.
Several other research firms have also commented on BLKB. DA Davidson cut their price objective on Blackbaud from $105.00 to $82.00 and set a hold rating for the company in a research note on Tuesday. ValuEngine lowered Blackbaud from a buy rating to a hold rating in a research note on Tuesday. Needham & Company LLC initiated coverage on Blackbaud in a research note on Wednesday, July 18th. They set a hold rating for the company. BidaskClub upgraded Blackbaud from a hold rating to a buy rating in a research note on Saturday, September 15th. Finally, Zacks Investment Research lowered Blackbaud from a hold rating to a sell rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $96.88.
NASDAQ BLKB traded up $1.28 during trading hours on Friday, reaching $74.08. The company’s stock had a trading volume of 444,624 shares, compared to its average volume of 308,667. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 4.69 and a beta of 0.62. Blackbaud has a 1-year low of $69.62 and a 1-year high of $120.35. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.35.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 28th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $0.48 annualized dividend and a yield of 0.65%. Blackbaud’s payout ratio is 30.19%.
In other Blackbaud news, Director George H. Ellis sold 2,652 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the transaction, the director now directly owns 7,730 shares in the company, valued at $743,316.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew M. Leitch sold 3,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $95.72, for a total value of $287,160.00. Following the transaction, the director now owns 24,457 shares in the company, valued at $2,341,024.04. 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. Louisiana State Employees Retirement System lifted its stake in Blackbaud by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the technology company’s stock worth $1,342,000 after purchasing an additional 500 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Blackbaud by 1.8% in the second 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 in the last quarter. Greenwood Capital Associates LLC raised its stake in shares of Blackbaud by 23.7% in the second 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 in the last quarter. Bank of Montreal Can raised its stake in shares of Blackbaud by 4.2% in the second 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 in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Blackbaud by 1.1% in the second 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 in the last quarter.
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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