Blackbaud (BLKB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a report released on Thursday. The brokerage currently has $103.00 price target on the technology company’s stock.

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 analysts have also weighed in on BLKB. DA Davidson assumed coverage on shares of Blackbaud in a research report on Friday, February 2nd. They issued a neutral rating and a $95.00 price objective on the stock. BidaskClub lowered shares of Blackbaud from a buy rating to a hold rating in a research report on Wednesday, January 3rd. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the stock a hold rating in a research report on Thursday, October 19th. Dougherty & Co started coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a neutral rating on the stock. Finally, Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a buy rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Blackbaud currently has an average rating of Hold and an average price target of $95.33.

Shares of Blackbaud (NASDAQ BLKB) opened at $93.58 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.63. Blackbaud has a 1 year low of $67.18 and a 1 year high of $104.55. The firm has a market cap of $4,500.26, a PE ratio of 68.31, a P/E/G ratio of 5.34 and a beta of 0.75.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. Blackbaud’s dividend payout ratio is currently 35.04%.

In other Blackbaud news, EVP Kevin W. Mooney sold 4,466 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $101.00, for a total value of $451,066.00. Following the transaction, the executive vice president now directly owns 71,655 shares in the company, valued at approximately $7,237,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Boruff sold 800 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total transaction of $83,160.00. Following the completion of the transaction, the executive vice president now owns 50,862 shares in the company, valued at $5,287,104.90. The disclosure for this sale can be found here. 2.19% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLKB. Wells Fargo & Company MN boosted its stake in shares of Blackbaud by 1.8% during the second quarter. Wells Fargo & Company MN now owns 61,667 shares of the technology company’s stock valued at $5,288,000 after purchasing an additional 1,068 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Blackbaud by 6.6% during the second quarter. UBS Asset Management Americas Inc. now owns 26,860 shares of the technology company’s stock valued at $2,303,000 after purchasing an additional 1,660 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Blackbaud during the second quarter valued at approximately $258,000. FMR LLC boosted its stake in shares of Blackbaud by 142.0% during the second quarter. FMR LLC now owns 345,736 shares of the technology company’s stock valued at $29,647,000 after purchasing an additional 202,843 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Blackbaud during the second quarter valued at approximately $233,000.

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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).

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