Blackbaud (BLKB) Given New $82.00 Price Target at Robert W. Baird

Share on StockTwits

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.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $214.60 million during the quarter, compared to analysts’ expectations of $214.80 million. Blackbaud had a return on equity of 27.70% and a net margin of 8.14%. Blackbaud’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Equities analysts predict that Blackbaud will post 1.91 EPS for the current fiscal year.

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.

About Blackbaud

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.

Further Reading: Day Trading – Risk Worth the Reward?

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.