Blackbaud, Inc. (NASDAQ:BLKB)‘s stock had its “buy” rating reiterated by research analysts at Stifel Nicolaus in a research note issued to investors on Friday, July 21st. They presently have a $96.00 price objective on the technology company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 15.05% from the company’s previous close.
A number of other research analysts have also recently issued reports on BLKB. B. Riley cut Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. began coverage on Blackbaud in a research note on Wednesday, April 19th. They set an “outperform” rating and a $90.00 price objective on the stock. Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.71.
Shares of Blackbaud (NASDAQ BLKB) traded down 0.14% during midday trading on Friday, reaching $83.44. The company had a trading volume of 144,899 shares. The company has a market capitalization of $3.89 billion, a PE ratio of 80.31 and a beta of 0.77. The company has a 50 day moving average of $87.96 and a 200 day moving average of $80.48. Blackbaud has a one year low of $55.88 and a one year high of $93.81.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The company had revenue of $192.50 million for the quarter, compared to the consensus estimate of $193.66 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that Blackbaud will post $2.14 EPS for the current fiscal year.
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In related news, Director George H. Ellis sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the sale, the director now directly owns 9,011 shares of the company’s stock, valued at $769,539.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Mistretta sold 596 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $82.00, for a total value of $48,872.00. Following the completion of the sale, the executive vice president now directly owns 86,278 shares in the company, valued at $7,074,796. The disclosure for this sale can be found here. Insiders sold 17,643 shares of company stock worth $1,498,050 over the last three months. 2.74% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of BLKB. State of Wisconsin Investment Board raised its stake in shares of Blackbaud by 103.4% in the first quarter. State of Wisconsin Investment Board now owns 98,360 shares of the technology company’s stock valued at $7,541,000 after buying an additional 50,000 shares during the period. Macquarie Group Ltd. raised its stake in shares of Blackbaud by 1.0% in the fourth quarter. Macquarie Group Ltd. now owns 695,598 shares of the technology company’s stock valued at $44,518,000 after buying an additional 6,873 shares during the period. Norges Bank bought a new stake in shares of Blackbaud during the fourth quarter valued at approximately $42,403,000. Geneva Advisors LLC raised its stake in shares of Blackbaud by 6.4% in the first quarter. Geneva Advisors LLC now owns 17,359 shares of the technology company’s stock valued at $1,331,000 after buying an additional 1,044 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Blackbaud during the first quarter valued at approximately $1,516,000.
About Blackbaud
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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