Black Knight (NYSE:BKI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $54.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.88% from the company’s previous close.
According to Zacks, “Black Knight, Inc. engages in the provision of integrated technology, workflow automation and data and analytics to the mortgage and real estate industries, through its subsidiaries. It operates through the Technology and Data and Analytics business segments. Technology segment offers software and hosting solutions which support loan servicing, loan origination and settlement services. Data and Analytics segment provides property ownership data, lien data, servicing data, automated valuation models, collateral risk scores, prepayment and default models, lead generation and other data solutions. Black Knight Inc., formerly known as Black Knight Financial Services Inc., is headquartered in Jacksonville, FL. “
A number of other analysts have also weighed in on the stock. ValuEngine upgraded shares of Black Knight from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. William Blair restated an “outperform” rating on shares of Black Knight in a research report on Wednesday, February 7th. Bank of America cut their target price on shares of Black Knight from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Barclays cut their target price on shares of Black Knight from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Finally, Wedbush restated a “neutral” rating and issued a $50.00 target price on shares of Black Knight in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.11.
Black Knight (NYSE:BKI) last issued its earnings results on Wednesday, February 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Black Knight had a net margin of 17.14% and a return on equity of 11.32%. The firm had revenue of $268.40 million for the quarter, compared to analyst estimates of $270.08 million. equities analysts anticipate that Black Knight will post 1.71 EPS for the current fiscal year.
In other news, Director H. Lee Equity Fund Vi Thomas sold 7,000,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $48.63, for a total transaction of $340,410,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Penbrook Management LLC bought a new position in Black Knight during the fourth quarter worth $737,000. Xact Kapitalforvaltning AB bought a new position in Black Knight during the fourth quarter worth $408,000. Envestnet Asset Management Inc. bought a new position in Black Knight during the fourth quarter worth $987,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Black Knight during the fourth quarter worth $834,000. Finally, Segall Bryant & Hamill LLC bought a new position in Black Knight during the fourth quarter worth $14,128,000. 85.54% of the stock is owned by hedge funds and other institutional investors.
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About Black Knight
Black Knight, Inc provides software, data, and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals primarily in the United States. It operates through two segments, Software Solutions, and Data and Analytics. The Software Solutions segment offers software and hosting solutions, including LoanSphere mortgage servicing platform, a software as a service application that automates loan servicing to the secondary mortgage market and investor reporting; and LoanSphere Bankruptcy and LoanSphere Foreclosure solutions, which are Web-based workflow information systems for managing and automating a range of workflow processes involving non-performing loans.
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