Blackbaud, Inc. (BLKB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and thirteen have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $91.29.

Several equities research analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Blackbaud to $75.00 and gave the stock a “neutral” rating in a research report on Friday, March 29th. Zacks Investment Research cut shares of Blackbaud from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. BidaskClub cut shares of Blackbaud from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stephens cut shares of Blackbaud from an “overweight” rating to an “equal weight” rating and set a $86.00 price target for the company. in a research report on Wednesday, April 3rd.

In related news, EVP Kevin W. Mooney sold 15,728 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $77.59, for a total transaction of $1,220,335.52. Following the completion of the sale, the executive vice president now owns 89,529 shares of the company’s stock, valued at $6,946,555.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony W. Boor sold 9,606 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $77.82, for a total transaction of $747,538.92. Following the sale, the chief financial officer now directly owns 92,016 shares of the company’s stock, valued at approximately $7,160,685.12. The disclosure for this sale can be found here. Insiders have sold 86,432 shares of company stock valued at $6,661,485 in the last three months. 1.55% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of BLKB. Norges Bank purchased a new stake in Blackbaud during the fourth quarter valued at approximately $46,789,000. Atlanta Capital Management Co. L L C increased its stake in Blackbaud by 8.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 4,639,087 shares of the technology company’s stock valued at $291,799,000 after purchasing an additional 355,998 shares in the last quarter. Van ECK Associates Corp acquired a new position in Blackbaud during the 4th quarter valued at approximately $20,543,000. FMR LLC increased its stake in Blackbaud by 12,718.2% during the 4th quarter. FMR LLC now owns 163,048 shares of the technology company’s stock valued at $10,255,000 after purchasing an additional 161,776 shares in the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new position in Blackbaud during the 4th quarter valued at approximately $8,895,000.

Blackbaud stock traded up $1.81 during trading hours on Thursday, hitting $80.83. The company had a trading volume of 8,849 shares, compared to its average volume of 305,745. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 43.48, a price-to-earnings-growth ratio of 7.45 and a beta of 1.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.74 and a quick ratio of 0.74. Blackbaud has a 1 year low of $58.23 and a 1 year high of $120.35.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. Blackbaud had a net margin of 5.28% and a return on equity of 24.41%. The company had revenue of $221.79 million during the quarter, compared to analysts’ expectations of $220.40 million. During the same period in the previous year, the company earned $0.61 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts expect that Blackbaud will post 1.27 earnings per share for the current year.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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