BidaskClub Downgrades Blackbaud (BLKB) to Hold

Blackbaud (NASDAQ:BLKB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities research analysts have also recently issued reports on BLKB. Citigroup initiated coverage on Blackbaud in a report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective on the stock. Robert W. Baird set a $85.00 target price on Blackbaud and gave the stock a “hold” rating in a research report on Sunday, October 1st. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. B. Riley set a $82.00 target price on Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Dougherty & Co initiated coverage on Blackbaud in a research report on Tuesday, October 31st. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $94.75.

Shares of Blackbaud (NASDAQ BLKB) traded up $0.12 during trading hours on Wednesday, reaching $94.54. The company’s stock had a trading volume of 148,600 shares, compared to its average volume of 187,333. The firm has a market cap of $4,540.62, a PE ratio of 86.73, a PEG ratio of 5.07 and a beta of 0.83. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud has a 52-week low of $61.98 and a 52-week high of $104.55.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $195.51 million for the quarter, compared to analysts’ expectations of $196.35 million. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. Blackbaud’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. equities analysts anticipate that Blackbaud will post 1.57 EPS for the current year.

In other Blackbaud news, Director George H. Ellis sold 1,500 shares of Blackbaud stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $101.47, for a total value of $152,205.00. Following the completion of the transaction, the director now directly owns 7,511 shares in the company, valued at $762,141.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Boruff sold 800 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the transaction, the executive vice president now owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The disclosure for this sale can be found here. Insiders sold 9,655 shares of company stock valued at $972,923 over the last quarter. Insiders own 2.19% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of Blackbaud by 787.4% during the second quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock valued at $355,393,000 after buying an additional 3,677,492 shares during the last quarter. State Street Corp raised its holdings in Blackbaud by 37.0% during the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock worth $136,159,000 after purchasing an additional 428,948 shares in the last quarter. Jackson Square Partners LLC raised its holdings in Blackbaud by 3.7% during the third quarter. Jackson Square Partners LLC now owns 1,162,056 shares of the technology company’s stock worth $102,028,000 after purchasing an additional 41,858 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Blackbaud by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 945,845 shares of the technology company’s stock worth $82,432,000 after purchasing an additional 26,980 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Blackbaud by 4.6% during the second quarter. Northern Trust Corp now owns 800,433 shares of the technology company’s stock worth $68,638,000 after purchasing an additional 35,231 shares in the last quarter.

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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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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