Blackbaud, Inc. (NASDAQ:BLKB) Given Consensus Rating of “Hold” by Brokerages

Blackbaud, Inc. (NASDAQ:BLKB) has received a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $86.67.

A number of analysts have recently weighed in on BLKB shares. Raymond James cut their price objective on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th.

Insiders Place Their Bets

In other news, CFO Anthony W. Boor sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the transaction, the chief financial officer now owns 140,262 shares in the company, valued at $11,901,230.70. This trade represents a 6.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Gianoni sold 12,325 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $83.25, for a total transaction of $1,026,056.25. Following the completion of the sale, the chief executive officer now directly owns 389,539 shares of the company’s stock, valued at approximately $32,429,121.75. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,923 shares of company stock worth $3,737,450. Company insiders own 1.95% of the company’s stock.

Institutional Trading of Blackbaud

Several institutional investors have recently modified their holdings of BLKB. ArrowMark Colorado Holdings LLC raised its position in shares of Blackbaud by 22.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,283,473 shares of the technology company’s stock worth $108,684,000 after purchasing an additional 235,859 shares during the last quarter. Wellington Management Group LLP increased its stake in Blackbaud by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company’s stock worth $36,332,000 after buying an additional 154,019 shares in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of Blackbaud during the third quarter valued at approximately $5,987,000. Kestrel Investment Management Corp purchased a new position in shares of Blackbaud in the second quarter valued at approximately $4,795,000. Finally, Millennium Management LLC boosted its stake in shares of Blackbaud by 2,240.8% in the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company’s stock worth $4,830,000 after acquiring an additional 60,702 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

Blackbaud Stock Performance

Shares of BLKB opened at $76.12 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day moving average of $82.02 and a two-hundred day moving average of $80.40. The stock has a market cap of $3.86 billion, a P/E ratio of 74.63 and a beta of 1.06. Blackbaud has a one year low of $66.47 and a one year high of $88.95.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $293.74 million. During the same period last year, the firm earned $0.65 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Blackbaud will post 2.6 EPS for the current year.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.