Blackbaud, Inc. (NASDAQ:BLKB) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $81.71.
A number of equities research analysts have recently weighed in on BLKB shares. Benchmark Co. cut their target price on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus reissued a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research note on Friday, July 21st. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, B. Riley reissued a “neutral” rating and set a $78.00 price objective on shares of Blackbaud in a research note on Monday, August 28th.
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Blackbaud (NASDAQ BLKB) opened at 83.77 on Wednesday. The stock has a 50 day moving average price of $84.91 and a 200 day moving average price of $82.88. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.81. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 80.63 and a beta of 0.82.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). The company had revenue of $192.50 million for the quarter, compared to the consensus estimate of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. Analysts anticipate that Blackbaud will post $2.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 28th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 24th. Blackbaud’s payout ratio is currently 47.06%.
In related news, SVP Jon W. Olson sold 5,282 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.24, for a total transaction of $444,955.68. Following the sale, the senior vice president now owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin W. Mooney sold 5,027 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $83.52, for a total transaction of $419,855.04. Following the sale, the executive vice president now directly owns 78,611 shares in the company, valued at approximately $6,565,590.72. The disclosure for this sale can be found here. Insiders have sold 20,752 shares of company stock worth $1,771,517 in the last three months. 2.74% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BLKB. ETF Managers Group LLC bought a new position in shares of Blackbaud in the second quarter worth approximately $125,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after buying an additional 39 shares in the last quarter. QS Investors LLC lifted its stake in shares of Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after buying an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after buying an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. bought a new position in shares of Blackbaud in the second quarter worth approximately $203,000.
Blackbaud Company Profile
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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