Blackbaud (BLKB) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a report published on Wednesday, January 3rd.

Several other equities analysts also recently commented on BLKB. B. Riley set a $82.00 price target on shares of Blackbaud and gave the company a hold rating in a report on Thursday, October 19th. Robert W. Baird upped their price target on shares of Blackbaud from $85.00 to $95.00 and gave the company a neutral rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Blackbaud from a hold rating to a buy rating and set a $115.00 price target on the stock in a report on Monday, October 30th. Citigroup set a $112.00 price target on shares of Blackbaud and gave the company a buy rating in a report on Friday, October 27th. Finally, Dougherty & Co initiated coverage on shares of Blackbaud in a research report on Tuesday, October 31st. They issued a neutral rating for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $94.75.

Shares of Blackbaud (NASDAQ:BLKB) traded up $0.49 during midday trading on Wednesday, reaching $95.55. 123,405 shares of the company’s stock were exchanged, compared to its average volume of 197,523. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $4,590.00, a P/E ratio of 86.86, a P/E/G ratio of 5.13 and a beta of 0.82. Blackbaud has a one year low of $61.98 and a one year high of $104.55.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm had revenue of $195.51 million for the quarter, compared to the consensus estimate of $196.35 million. During the same period in the previous year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. equities analysts anticipate that Blackbaud will post 1.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.50%. Blackbaud’s payout ratio is presently 43.64%.

In related news, EVP Brian Boruff sold 800 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the completion of the sale, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the sale, the chief financial officer now directly owns 105,342 shares of the company’s stock, valued at approximately $10,350,904.92. The disclosure for this sale can be found here. Insiders sold a total of 9,655 shares of company stock valued at $972,923 in the last ninety days. Corporate insiders own 2.19% of the company’s stock.

A number of large investors have recently bought and sold shares of BLKB. JPMorgan Chase & Co. increased its stake in Blackbaud by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock valued at $78,792,000 after purchasing an additional 51,747 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Blackbaud during the 2nd quarter valued at approximately $1,476,000. Nationwide Fund Advisors increased its stake in Blackbaud by 27.2% during the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock valued at $37,002,000 after purchasing an additional 92,379 shares in the last quarter. Sciencast Management LP acquired a new position in Blackbaud during the 2nd quarter valued at approximately $403,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Blackbaud by 28.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock worth $1,277,000 after acquiring an additional 3,190 shares during the period.

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Blackbaud Company Profile

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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