Blackbaud, Inc. (NASDAQ:BLKB) Given Average Recommendation of “Hold” by Brokerages

Blackbaud, Inc. (NASDAQ:BLKB) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $86.67.

Several research analysts have recently weighed in on BLKB shares. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $70.96 on Wednesday. Blackbaud has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The company has a fifty day moving average of $76.88 and a two-hundred day moving average of $80.37. The stock has a market capitalization of $3.49 billion, a PE ratio of 69.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. As a group, research analysts forecast that Blackbaud will post 2.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Anthony W. Boor sold 10,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the sale, the chief financial officer now owns 140,262 shares of the company’s stock, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the transaction, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,279 shares of company stock valued at $1,750,404. Corporate insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestcor Inc acquired a new stake in Blackbaud in the fourth quarter valued at $75,000. TD Private Client Wealth LLC raised its holdings in Blackbaud by 42.0% during the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares in the last quarter. KBC Group NV boosted its holdings in shares of Blackbaud by 33.9% in the 4th quarter. KBC Group NV now owns 1,676 shares of the technology company’s stock valued at $124,000 after buying an additional 424 shares in the last quarter. Blue Trust Inc. boosted its stake in Blackbaud by 190.4% in the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Blackbaud by 13.9% in the 4th quarter. Huntington National Bank now owns 1,864 shares of the technology company’s stock valued at $138,000 after purchasing an additional 227 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Company Profile

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.