Blackbaud, Inc. (BLKB) PT Set at $112.00 by Citigroup Inc.

Blackbaud, Inc. (NASDAQ:BLKB) received a $112.00 price objective from equities research analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s target price indicates a potential upside of 9.39% from the stock’s previous close.

BLKB has been the subject of a number of other research reports. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. B. Riley set a $82.00 price objective on Blackbaud and gave the stock a “hold” rating in a research report on Thursday. Finally, Robert W. Baird set a $85.00 price objective on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Blackbaud presently has an average rating of “Hold” and an average target price of $88.50.

Shares of Blackbaud (NASDAQ BLKB) traded up 5.75% during trading on Friday, hitting $102.39. The company’s stock had a trading volume of 930,876 shares. The company has a market capitalization of $4.78 billion, a P/E ratio of 98.55 and a beta of 0.84. Blackbaud has a 1-year low of $55.88 and a 1-year high of $102.93. The firm’s 50 day moving average is $88.42 and its 200-day moving average is $85.52.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The company had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. During the same quarter last year, the company earned $0.45 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Blackbaud will post $2.15 EPS for the current fiscal year.

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In related news, insider Michael P. Gianoni sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $87.77, for a total transaction of $351,080.00. Following the completion of the transaction, the insider now owns 258,921 shares in the company, valued at approximately $22,725,496.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin W. Mooney sold 2,338 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $88.00, for a total value of $205,744.00. Following the transaction, the executive vice president now owns 83,638 shares of the company’s stock, valued at approximately $7,360,144. The disclosure for this sale can be found here. Insiders have sold a total of 20,752 shares of company stock valued at $1,771,517 in the last 90 days. 2.19% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of BLKB. UBS Asset Management Americas Inc. lifted its position in shares of Blackbaud by 20.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 25,200 shares of the technology company’s stock worth $1,932,000 after buying an additional 4,362 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Blackbaud by 15.1% during the 1st quarter. OppenheimerFunds Inc. now owns 7,918 shares of the technology company’s stock worth $607,000 after buying an additional 1,038 shares during the period. Teachers Advisors LLC lifted its position in shares of Blackbaud by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 94,092 shares of the technology company’s stock worth $7,214,000 after buying an additional 3,119 shares during the period. California Public Employees Retirement System lifted its position in shares of Blackbaud by 3.2% during the 1st quarter. California Public Employees Retirement System now owns 70,800 shares of the technology company’s stock worth $5,428,000 after buying an additional 2,200 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Blackbaud by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock worth $325,020,000 after buying an additional 205,672 shares during the period.

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).

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