Blackbaud (BLKB) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a sell rating in a report released on Tuesday morning.

A number of other brokerages have also issued reports on BLKB. Raymond James lowered shares of Blackbaud from an outperform rating to a market perform rating in a research note on Tuesday, October 9th. William Blair lowered shares of Blackbaud from an outperform rating to a market perform rating in a research note on Tuesday, July 31st. Needham & Company LLC started coverage on shares of Blackbaud in a research note on Wednesday, July 18th. They set a hold rating for the company. Robert W. Baird lowered their target price on shares of Blackbaud from $105.00 to $82.00 and set a neutral rating for the company in a research note on Friday, October 12th. Finally, JMP Securities lowered shares of Blackbaud from an outperform rating to a market perform rating and set a $116.00 target price for the company. in a research note on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. Blackbaud has an average rating of Hold and an average price target of $96.88.

Shares of BLKB opened at $74.63 on Tuesday. The firm has a market cap of $4.93 billion, a PE ratio of 45.77, a P/E/G ratio of 4.69 and a beta of 0.62. Blackbaud has a 12-month low of $69.62 and a 12-month high of $120.35. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.35.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $214.60 million during the quarter, compared to analyst estimates of $214.80 million. Blackbaud had a net margin of 8.14% and a return on equity of 27.70%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Analysts predict that Blackbaud will post 1.91 EPS for the current year.

In related news, Director Andrew M. Leitch sold 3,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $95.72, for a total value of $287,160.00. Following the completion of the sale, the director now directly owns 24,457 shares of the company’s stock, valued at $2,341,024.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George H. Ellis sold 2,652 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the completion of the sale, the director now directly owns 7,730 shares of the company’s stock, valued at $743,316.80. The disclosure for this sale can be found here. 1.55% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in BLKB. Wells Fargo & Company MN lifted its stake in Blackbaud by 8.2% in the first quarter. Wells Fargo & Company MN now owns 73,260 shares of the technology company’s stock worth $7,458,000 after acquiring an additional 5,578 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Blackbaud by 16.1% during the first quarter. Russell Investments Group Ltd. now owns 19,879 shares of the technology company’s stock valued at $2,024,000 after buying an additional 2,752 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Blackbaud by 47.8% during the first quarter. Stifel Financial Corp now owns 7,796 shares of the technology company’s stock valued at $795,000 after buying an additional 2,523 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Blackbaud by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,838 shares of the technology company’s stock valued at $1,002,000 after buying an additional 3,540 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Blackbaud by 50.6% during the first quarter. UBS Group AG now owns 54,324 shares of the technology company’s stock valued at $5,531,000 after buying an additional 18,245 shares during the last quarter.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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