Blackbaud, Inc. (NASDAQ:BLKB) – Equities research analysts at B. Riley decreased their FY2017 earnings per share estimates for Blackbaud in a note issued to investors on Wednesday. B. Riley analyst K. Liu now forecasts that the technology company will earn $1.63 per share for the year, down from their previous estimate of $1.65. B. Riley has a “Neutral” rating and a $78.00 price target on the stock.
BLKB has been the subject of a number of other reports. Wunderlich lowered shares of Blackbaud from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a report on Thursday, February 16th. Stifel Nicolaus increased their target price on shares of Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Benchmark Co. reiterated a “buy” rating and set a $90.00 target price (up from $85.00) on shares of Blackbaud in a report on Tuesday, May 2nd. Raymond James Financial, Inc. assumed coverage on shares of Blackbaud in a report on Wednesday, April 19th. They set an “outperform” rating and a $90.00 target price for the company. Finally, Robert W. Baird lowered shares of Blackbaud from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a report on Tuesday, February 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $75.44.
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Shares of Blackbaud (NASDAQ:BLKB) traded down 0.30% on Monday, reaching $79.06. The company’s stock had a trading volume of 69,756 shares. The stock has a 50 day moving average of $77.72 and a 200-day moving average of $69.72. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 79.94 and a beta of 0.93. Blackbaud has a 12 month low of $55.88 and a 12 month high of $81.68.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, May 1st. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $183.62 million for the quarter, compared to analyst estimates of $182.95 million. Blackbaud had a return on equity of 30.77% and a net margin of 5.34%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $0.48 annualized dividend and a yield of 0.61%. Blackbaud’s dividend payout ratio (DPR) is presently 57.83%.
In other Blackbaud news, Director Joyce Nelson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $71.07, for a total value of $71,070.00. Following the completion of the sale, the director now directly owns 13,254 shares in the company, valued at $941,961.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony W. Boor sold 9,913 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $71.54, for a total transaction of $709,176.02. Following the completion of the sale, the chief financial officer now owns 91,120 shares of the company’s stock, valued at $6,518,724.80. The disclosure for this sale can be found here. Insiders sold 25,698 shares of company stock valued at $1,885,836 over the last 90 days. 2.74% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can raised its stake in shares of Blackbaud by 4.0% in the third quarter. Great West Life Assurance Co. Can now owns 63,540 shares of the technology company’s stock valued at $4,214,000 after buying an additional 2,445 shares during the period. Sawgrass Asset Management LLC raised its stake in shares of Blackbaud by 90.3% in the third quarter. Sawgrass Asset Management LLC now owns 5,880 shares of the technology company’s stock valued at $390,000 after buying an additional 2,790 shares during the period. Campbell Newman Asset Management Inc. bought a new stake in shares of Blackbaud during the third quarter valued at approximately $231,000. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Blackbaud by 13.8% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,375 shares of the technology company’s stock valued at $357,000 after buying an additional 650 shares during the period. Finally, US Bancorp DE raised its stake in shares of Blackbaud by 7.4% in the third quarter. US Bancorp DE now owns 4,557 shares of the technology company’s stock valued at $302,000 after buying an additional 315 shares during the period.
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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