Blackbaud, Inc. (NASDAQ:BLKB) Receives Average Rating of “Hold” from Brokerages

by · The Markets Daily

Shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) have received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $86.67.

A number of brokerages recently weighed in on BLKB. Stifel Nicolaus upped their price target on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Raymond James reduced their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Robert W. Baird downgraded shares of Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research report on Thursday, October 31st.

Read Our Latest Analysis on BLKB

Insider Transactions at Blackbaud

In other Blackbaud news, Director Sarah E. Nash sold 3,100 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the transaction, the director now directly owns 23,723 shares in the company, valued at $1,992,257.54. This represents a 11.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Gianoni sold 12,325 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the transaction, the chief executive officer now directly owns 389,539 shares of the company’s stock, valued at approximately $32,429,121.75. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,923 shares of company stock valued at $3,737,450. 1.95% of the stock is currently owned by insiders.

Institutional Trading of Blackbaud

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Blackbaud by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company’s stock valued at $912,000 after acquiring an additional 137 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Blackbaud by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company’s stock worth $2,045,000 after buying an additional 151 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock worth $239,000 after buying an additional 184 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of Blackbaud by 2.1% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock valued at $850,000 after buying an additional 225 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Blackbaud by 6.4% during the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company’s stock worth $413,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Performance

NASDAQ BLKB opened at $76.31 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68. Blackbaud has a 1-year low of $66.47 and a 1-year high of $88.95. The firm has a market capitalization of $3.87 billion, a P/E ratio of 74.81 and a beta of 1.06. The business’s 50-day simple moving average is $82.72 and its 200-day simple moving average is $80.45.

Blackbaud (NASDAQ:BLKB – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Blackbaud will post 2.6 EPS for the current year.

Blackbaud Company Profile

(Get Free Report

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.

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