Blackbaud, Inc. (NASDAQ:BLKB)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday. They currently have a $96.00 target price on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 7.15% from the company’s current price.
BLKB has been the topic of a number of other research reports. Raymond James Financial, Inc. started coverage on shares of Blackbaud in a report on Wednesday, April 19th. They issued an “outperform” rating and a $90.00 target price on the stock. Benchmark Co. reiterated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Finally, B. Riley lowered shares of Blackbaud to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Monday, May 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $77.75.
Blackbaud (NASDAQ BLKB) traded down 0.03% during mid-day trading on Friday, hitting $89.56. The company’s stock had a trading volume of 157,205 shares. The firm has a 50 day moving average of $87.41 and a 200-day moving average of $77.61. Blackbaud has a 52-week low of $55.88 and a 52-week high of $92.73. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 90.56 and a beta of 0.76.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.01. Blackbaud had a return on equity of 31.13% and a net margin of 6.11%. The business had revenue of $183.62 million during the quarter, compared to analyst estimates of $182.95 million. During the same quarter in the prior year, the company earned $0.42 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Blackbaud will post $2.13 EPS for the current fiscal year.
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In other news, EVP Kevin W. Mooney sold 5,094 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 85,976 shares in the company, valued at approximately $6,801,561.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sarah E. Nash sold 825 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total transaction of $64,902.75. Following the sale, the director now owns 20,652 shares of the company’s stock, valued at approximately $1,624,692.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,224 shares of company stock valued at $1,152,915. Company insiders own 2.74% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock valued at $440,182,000 after buying an additional 5,737,302 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Blackbaud by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock valued at $325,020,000 after buying an additional 205,672 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Blackbaud by 7.7% in the first quarter. Wellington Management Group LLP now owns 2,591,699 shares of the technology company’s stock valued at $198,705,000 after buying an additional 184,366 shares during the last quarter. Champlain Investment Partners LLC raised its stake in shares of Blackbaud by 9.6% in the first quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock valued at $173,194,000 after buying an additional 197,065 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Blackbaud by 7.5% in the first quarter. State Street Corp now owns 1,158,864 shares of the technology company’s stock valued at $88,849,000 after buying an additional 80,891 shares during the last quarter.
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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