Blackbaud (BLKB) Downgraded by Zacks Investment Research to “Hold”

Blackbaud (NASDAQ:BLKB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other equities research analysts have also recently issued reports on BLKB. BidaskClub cut shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. B. Riley set a $82.00 price target on shares of Blackbaud and gave the company a “hold” rating in a research note on Thursday, October 19th. Robert W. Baird lifted their price target on shares of Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Citigroup set a $112.00 price target on shares of Blackbaud and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Dougherty & Co began coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Blackbaud has an average rating of “Buy” and an average target price of $94.75.

Blackbaud (NASDAQ BLKB) traded up $0.62 during trading hours on Wednesday, hitting $96.13. 108,318 shares of the stock traded hands, compared to its average volume of 303,448. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $4,625.26, a price-to-earnings ratio of 88.19, a price-to-earnings-growth ratio of 5.90 and a beta of 0.82. Blackbaud has a 52-week low of $61.98 and a 52-week high of $104.55.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. equities research analysts forecast that Blackbaud will post 1.57 EPS for the current year.

In other Blackbaud news, Director George H. Ellis sold 1,500 shares of Blackbaud stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $101.47, for a total transaction of $152,205.00. Following the sale, the director now owns 7,511 shares of the company’s stock, valued at approximately $762,141.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 900 shares of Blackbaud stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total transaction of $91,053.00. Following the sale, the executive vice president now directly owns 77,711 shares in the company, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,655 shares of company stock worth $972,923. 2.19% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atlantic Trust Group LLC acquired a new position in shares of Blackbaud during the 3rd quarter valued at about $1,839,000. Shelton Capital Management purchased a new stake in Blackbaud in the 3rd quarter valued at about $235,000. Colony Group LLC purchased a new stake in Blackbaud in the 3rd quarter valued at about $2,504,000. California Public Employees Retirement System raised its holdings in Blackbaud by 6.4% in the 3rd quarter. California Public Employees Retirement System now owns 72,366 shares of the technology company’s stock valued at $6,354,000 after buying an additional 4,366 shares during the period. Finally, Jane Street Group LLC raised its holdings in Blackbaud by 80.7% in the 3rd quarter. Jane Street Group LLC now owns 6,081 shares of the technology company’s stock valued at $534,000 after buying an additional 2,715 shares during the period.

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About Blackbaud

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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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