Blackbaud, Inc. (NASDAQ:BLKB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $115.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.52% from the company’s previous close.
According to Zacks, “Blackbaud Inc. combines technology and expertise to help organizations achieve their missions. Blackbaud works with more than 30,000 customers in over 60 countries that support higher education, healthcare, human services, arts and culture, faith, the environment, independent K-12 education, animal welfare and other charitable causes. The company offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics and vertical-specific solutions. Using Blackbaud technology, these organizations raise more than $100 billion each year. “
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $96.00 price objective on shares of Blackbaud in a research report on Friday, July 21st. Citigroup Inc. initiated coverage on shares of Blackbaud in a research report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price objective for the company. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Robert W. Baird set a $85.00 price objective on shares of Blackbaud and gave the company a “hold” rating in a research report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $91.44.
Blackbaud (NASDAQ BLKB) opened at 101.30 on Monday. The company has a market capitalization of $4.73 billion, a P/E ratio of 97.50 and a beta of 0.84. Blackbaud has a 52 week low of $55.88 and a 52 week high of $103.41. The stock’s 50 day moving average is $89.31 and its 200 day moving average is $85.93.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $195.51 million during the quarter, compared to analysts’ expectations of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, equities research analysts expect that Blackbaud will post $2.16 earnings per share for the current year.
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In other news, insider Michael P. Gianoni sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $87.77, for a total value of $351,080.00. Following the completion of the sale, the insider now owns 258,921 shares in the company, valued at approximately $22,725,496.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $84.78, for a total transaction of $93,681.90. Following the completion of the sale, the director now owns 22,272 shares of the company’s stock, valued at approximately $1,888,220.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,752 shares of company stock valued at $1,771,517. Company insiders own 2.19% of the company’s stock.
Several large investors have recently bought and sold shares of BLKB. UBS Asset Management Americas Inc. raised its holdings in shares of Blackbaud by 20.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 25,200 shares of the technology company’s stock valued at $1,932,000 after purchasing an additional 4,362 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Blackbaud by 15.1% in the 1st quarter. OppenheimerFunds Inc. now owns 7,918 shares of the technology company’s stock valued at $607,000 after purchasing an additional 1,038 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Blackbaud by 3.4% in the 1st quarter. Teachers Advisors LLC now owns 94,092 shares of the technology company’s stock valued at $7,214,000 after purchasing an additional 3,119 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Blackbaud by 3.2% in the 1st quarter. California Public Employees Retirement System now owns 70,800 shares of the technology company’s stock valued at $5,428,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Blackbaud by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock valued at $325,020,000 after purchasing an additional 205,672 shares in the last quarter.
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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