Raymond James Financial, Inc. started coverage on shares of Blackbaud, Inc. (NASDAQ:BLKB) in a research note published on Wednesday, April 19th. The brokerage issued an outperform rating and a $90.00 price target on the technology company’s stock.
Several other equities research analysts also recently weighed in on BLKB. B. Riley reaffirmed a buy rating and set a $78.00 target price on shares of Blackbaud in a research note on Friday, February 10th. Wunderlich downgraded shares of Blackbaud from a buy rating to a hold rating and set a $78.00 target price on the stock. in a research note on Friday, February 10th. Stifel Nicolaus upped their target price on shares of Blackbaud from $73.00 to $79.00 and gave the stock a buy rating in a research note on Friday, February 10th. Zacks Investment Research downgraded shares of Blackbaud from a hold rating to a sell rating in a research note on Tuesday, February 14th. Finally, Robert W. Baird downgraded shares of Blackbaud from an outperform rating to a neutral rating and set a $75.00 target price on the stock. in a research note on Tuesday, February 28th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $75.44.
Shares of Blackbaud (NASDAQ:BLKB) traded up 1.18% during trading on Wednesday, reaching $80.34. 316,368 shares of the company traded hands. The firm’s 50 day moving average price is $78.52 and its 200-day moving average price is $70.56. Blackbaud has a 52 week low of $55.88 and a 52 week high of $81.68. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 81.23 and a beta of 0.93.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.01. Blackbaud had a return on equity of 30.77% and a net margin of 5.34%. The business had revenue of $183.62 million for the quarter, compared to analysts’ expectations of $182.95 million. During the same period in the previous year, the company earned $0.42 earnings per share. Blackbaud’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Blackbaud will post $2.13 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 26th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, May 24th. Blackbaud’s dividend payout ratio (DPR) is 57.83%.
In related news, EVP John J. Mistretta sold 2,500 shares of the stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $78.00, for a total value of $195,000.00. Following the transaction, the executive vice president now directly owns 77,778 shares of the company’s stock, valued at approximately $6,066,684. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin W. Mooney sold 5,094 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $79.11, for a total transaction of $402,986.34. Following the completion of the transaction, the executive vice president now directly owns 85,976 shares in the company, valued at $6,801,561.36. The disclosure for this sale can be found here. Insiders sold a total of 12,594 shares of company stock worth $980,486 over the last ninety days. Insiders own 2.74% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in Blackbaud by 18.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock worth $115,000 after buying an additional 230 shares during the period. Fortaleza Asset Management Inc. bought a new position in Blackbaud during the fourth quarter worth approximately $129,000. Pacad Investment Ltd. bought a new position in Blackbaud during the fourth quarter worth approximately $173,000. Foundry Partners LLC bought a new position in Blackbaud during the first quarter worth approximately $201,000. Finally, Cypress Wealth Advisors LLC bought a new position in Blackbaud during the first quarter worth approximately $208,000.
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).
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