Blackbaud (NASDAQ:BLKB) Price Target Raised to $85.00 at Stifel Nicolaus

Blackbaud (NASDAQ:BLKB) had its target price hoisted by Stifel Nicolaus from $80.00 to $85.00 in a research report released on Thursday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Robert W. Baird boosted their target price on shares of Blackbaud from $88.00 to $92.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Evercore ISI upgraded Blackbaud to a hold rating in a research report on Thursday, August 1st.

Blackbaud Trading Up 0.1 %

Blackbaud stock opened at $84.10 on Thursday. Blackbaud has a 1 year low of $64.32 and a 1 year high of $88.56. The firm’s 50-day moving average is $80.55 and its 200-day moving average is $77.75. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $4.34 billion, a P/E ratio of 205.12 and a beta of 1.02.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a return on equity of 18.54% and a net margin of 3.64%. The business had revenue of $287.29 million for the quarter, compared to the consensus estimate of $289.26 million. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Blackbaud will post 2.46 earnings per share for the current year.

Blackbaud declared that its board has approved a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total value of $304,000.00. Following the completion of the sale, the senior vice president now directly owns 29,628 shares in the company, valued at $2,251,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sarah E. Nash sold 3,220 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $76.18, for a total transaction of $245,299.60. Following the completion of the transaction, the director now owns 26,823 shares in the company, valued at approximately $2,043,376.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jon W. Olson sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares in the company, valued at $2,251,728. The disclosure for this sale can be found here. Insiders have sold a total of 55,409 shares of company stock valued at $4,483,193 over the last quarter. Corporate insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLKB. Quest Partners LLC boosted its stake in shares of Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after acquiring an additional 413 shares in the last quarter. DT Investment Partners LLC acquired a new position in shares of Blackbaud in the 2nd quarter valued at $33,000. YHB Investment Advisors Inc. purchased a new position in Blackbaud in the 1st quarter worth about $54,000. Parallel Advisors LLC raised its holdings in Blackbaud by 303.3% during the 4th quarter. Parallel Advisors LLC now owns 734 shares of the technology company’s stock worth $64,000 after buying an additional 552 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Blackbaud by 447.8% during the first quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after buying an additional 2,078 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.