Zacks Investment Research Lowers Black Knight Financial Services, Inc. (NYSE:BKFS) to Strong Sell

Black Knight Financial Services, Inc. (NYSE:BKFS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, July 24th.

According to Zacks, “Black Knight Financial Services, Inc. offers integrated technology, workflow automation and data and analytics to the mortgage industry through its subsidiaries. It operating segments consists of Technology and Data and Analytics. Technology segment offers software and hosting solutions. Data and Analytics segment offers solutions support its technology products in the mortgage, real estate and capital markets industries. Black Knight Financial Services, Inc. is based in Jackonsville, United States. “

Other equities analysts have also issued research reports about the company. TheStreet raised Black Knight Financial Services from a “c” rating to a “b-” rating in a research note on Friday, May 19th. Bank of America Corporation upped their price target on Black Knight Financial Services from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Knight Equity reaffirmed a “hold” rating on shares of Black Knight Financial Services in a research note on Wednesday, July 19th. BidaskClub raised Black Knight Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Sidoti reissued an “overweight” rating and set a $48.00 target price (up previously from $45.00) on shares of Black Knight Financial Services in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.00.

Shares of Black Knight Financial Services (NYSE BKFS) traded down 0.24% during mid-day trading on Monday, reaching $42.25. The company had a trading volume of 276,409 shares. The company has a market capitalization of $2.83 billion, a PE ratio of 74.51 and a beta of 0.75. Black Knight Financial Services has a 1-year low of $34.00 and a 1-year high of $43.70. The stock’s 50-day moving average price is $41.00 and its 200 day moving average price is $39.15.

Black Knight Financial Services (NYSE:BKFS) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The company had revenue of $263.40 million during the quarter, compared to analysts’ expectations of $265.24 million. Black Knight Financial Services had a return on equity of 8.29% and a net margin of 3.96%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. Equities analysts expect that Black Knight Financial Services will post $1.37 EPS for the current year.

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In other Black Knight Financial Services news, CEO Thomas J. Sanzone sold 30,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $39.17, for a total value of $1,175,100.00. Following the sale, the chief executive officer now owns 871,990 shares of the company’s stock, valued at approximately $34,155,848.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director H. Lee Equity Fund Vi Thomas sold 750,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $41.90, for a total value of $31,425,000.00. The disclosure for this sale can be found here. Insiders sold a total of 870,000 shares of company stock worth $36,167,700 in the last ninety days. 30.91% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKFS. Victory Capital Management Inc. increased its position in Black Knight Financial Services by 10.1% in the first quarter. Victory Capital Management Inc. now owns 3,892,207 shares of the technology company’s stock worth $149,072,000 after buying an additional 358,044 shares during the last quarter. Vanguard Group Inc. increased its position in Black Knight Financial Services by 2.9% in the first quarter. Vanguard Group Inc. now owns 1,869,170 shares of the technology company’s stock worth $71,588,000 after buying an additional 52,750 shares during the last quarter. Earnest Partners LLC increased its position in Black Knight Financial Services by 3.2% in the first quarter. Earnest Partners LLC now owns 755,444 shares of the technology company’s stock worth $28,934,000 after buying an additional 23,159 shares during the last quarter. Columbia Wanger Asset Management LLC acquired a new position in Black Knight Financial Services during the first quarter worth approximately $25,557,000. Finally, Bank of America Corp DE increased its position in Black Knight Financial Services by 5.5% in the first quarter. Bank of America Corp DE now owns 666,192 shares of the technology company’s stock worth $25,514,000 after buying an additional 34,688 shares during the last quarter.

About Black Knight Financial Services

Black Knight Financial Services, Inc is a holding company. The Company, through its subsidiaries, provides integrated technology, workflow automation, and data and analytics to the mortgage and real estate industries. The Company’s segments include Technology, and Data and Analytics. The Company’s Technology segment offers software and hosting solutions that support loan servicing, loan origination and settlement services.

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