Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) PT at $85.33

Blackbaud, Inc. (NASDAQ:BLKB) has earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $85.33.

Separately, Robert W. Baird lowered their price objective on Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th.

Hedge Funds Weigh In On Blackbaud

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in shares of Blackbaud by 1.2% during the fourth quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock worth $213,263,000 after acquiring an additional 34,600 shares during the last quarter. State Street Corp grew its stake in Blackbaud by 3.5% during the third quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after purchasing an additional 56,090 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in Blackbaud by 3.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock worth $98,262,000 after purchasing an additional 45,835 shares during the period. Dimensional Fund Advisors LP grew its stake in Blackbaud by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock worth $75,393,000 after purchasing an additional 3,119 shares during the period. Finally, Northern Trust Corp grew its stake in Blackbaud by 9.1% during the fourth quarter. Northern Trust Corp now owns 693,577 shares of the technology company’s stock worth $51,269,000 after purchasing an additional 57,941 shares during the period. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Price Performance

Blackbaud stock opened at $63.93 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 7.40. The company has a market capitalization of $3.15 billion, a PE ratio of -10.84 and a beta of 1.08. Blackbaud has a 12 month low of $62.99 and a 12 month high of $88.95. The stock has a 50-day moving average price of $72.25 and a two-hundred day moving average price of $78.35.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). The firm had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. Analysts expect that Blackbaud will post 3.05 EPS for the current year.

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.