Blackbaud, Inc. (NASDAQ:BLKB) Stock Rated “Hold” by Wall Street Analysts

by · The Markets Daily

Shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) have been given a consensus rating of “Hold” by the five research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.00.

A number of equities analysts have issued reports on BLKB shares. Robert W. Baird set a $68.00 target price on Blackbaud in a report on Thursday, October 29th. Raymond James Financial reissued an “outperform” rating and set a $55.00 price target on shares of Blackbaud in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Blackbaud from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th.

Get Our Latest Report on BLKB

Insider Buying and Selling at Blackbaud

In other Blackbaud news, CFO Chad Anderson sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $47.56, for a total transaction of $95,120.00. Following the sale, the chief financial officer directly owned 59,883 shares of the company’s stock, valued at $2,848,035.48. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David J. Benjamin sold 2,086 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $48.27, for a total transaction of $100,691.22. Following the sale, the executive vice president directly owned 71,038 shares in the company, valued at $3,429,004.26. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,086 shares of company stock worth $1,967,361 in the last 90 days. Corporate insiders own 2.01% of the company’s stock.

Hedge Funds Weigh In On Blackbaud

Several large investors have recently modified their holdings of BLKB. Salomon & Ludwin LLC increased its holdings in Blackbaud by 162.5% in the third quarter. Salomon & Ludwin LLC now owns 693 shares of the technology company’s stock valued at $29,000 after purchasing an additional 429 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of Blackbaud in the 1st quarter valued at about $29,000. Parallel Advisors LLC grew its position in shares of Blackbaud by 528.0% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the technology company’s stock valued at $30,000 after buying an additional 660 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Blackbaud by 52.6% in the 3rd quarter. Global Retirement Partners LLC now owns 850 shares of the technology company’s stock valued at $35,000 after buying an additional 293 shares during the last quarter. Finally, Performa Ltd US LLC increased its stake in shares of Blackbaud by 337.5% in the second quarter. Performa Ltd US LLC now owns 875 shares of the technology company’s stock valued at $26,000 after buying an additional 675 shares during the period. Institutional investors own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of Blackbaud stock opened at $54.92 on Friday. The company’s 50 day moving average price is $48.17 and its two-hundred day moving average price is $41.41. The firm has a market capitalization of $2.47 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.85 and a beta of 1.02. Blackbaud has a fifty-two week low of $25.58 and a fifty-two week high of $64.84. The company has a debt-to-equity ratio of 8.55, a current ratio of 0.68 and a quick ratio of 0.68.

Blackbaud (NASDAQ:BLKB – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.03. Blackbaud had a return on equity of 209.40% and a net margin of 12.87%. The company had revenue of $292.64 million for the quarter, compared to the consensus estimate of $293.93 million. During the same quarter last year, the business posted $1.10 EPS. Blackbaud’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Blackbaud will post 3.74 earnings per share for the current fiscal year.

About Blackbaud

(Get Free Report)

Blackbaud, Inc. develops cloud software and related services for organizations focused on social good. Its customers include nonprofit organizations, foundations, schools and universities, healthcare organizations, and businesses that support charitable causes. The company’s products help customers manage fundraising, donor and constituent relationships, financial operations, marketing, grantmaking, and education administration. Its offerings include tools for online fundraising, payment processing, data analysis, and engagement with supporters, students, and other stakeholders.

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