Blackbaud (NASDAQ:BLKB) Stock Rating Lowered by Wall Street Zen

Blackbaud (NASDAQ:BLKB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Stifel Nicolaus set a $70.00 target price on shares of Blackbaud in a report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Blackbaud has a consensus rating of “Reduce” and a consensus target price of $73.00.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB opened at $64.04 on Friday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -12.32, a P/E/G ratio of 4.75 and a beta of 1.11. The firm’s 50 day simple moving average is $65.48 and its 200 day simple moving average is $64.20. The company has a debt-to-equity ratio of 9.63, a current ratio of 0.69 and a quick ratio of 0.84. Blackbaud has a fifty-two week low of $58.05 and a fifty-two week high of $88.95.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share for the quarter. The business had revenue of $274.76 million for the quarter. Blackbaud had a negative net margin of 22.57% and a positive return on equity of 137.13%. As a group, sell-side analysts forecast that Blackbaud will post 3.05 earnings per share for the current year.

Insider Activity

In other news, Director Rupal S. Hollenbeck sold 2,500 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.98, for a total value of $159,950.00. Following the completion of the sale, the director owned 7,966 shares of the company’s stock, valued at approximately $509,664.68. The trade was a 23.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Blackbaud

A number of institutional investors have recently modified their holdings of BLKB. KBC Group NV boosted its position in shares of Blackbaud by 31.8% in the first quarter. KBC Group NV now owns 2,209 shares of the technology company’s stock valued at $137,000 after acquiring an additional 533 shares during the period. Teacher Retirement System of Texas raised its stake in Blackbaud by 21.8% in the first quarter. Teacher Retirement System of Texas now owns 5,938 shares of the technology company’s stock valued at $368,000 after purchasing an additional 1,063 shares in the last quarter. Calamos Advisors LLC raised its stake in Blackbaud by 49.8% in the first quarter. Calamos Advisors LLC now owns 136,734 shares of the technology company’s stock valued at $8,484,000 after purchasing an additional 45,483 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Blackbaud by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 131,033 shares of the technology company’s stock valued at $8,131,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Kesler Norman & Wride LLC raised its stake in Blackbaud by 35.5% in the first quarter. Kesler Norman & Wride LLC now owns 11,494 shares of the technology company’s stock valued at $713,000 after purchasing an additional 3,014 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

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.