Blackbaud, Inc. (NASDAQ:BLKB) Receives Average Recommendation of “Hold” from Analysts

Blackbaud, Inc. (NASDAQ:BLKB) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $85.33.

A number of brokerages have recently weighed in on BLKB. Robert W. Baird lowered their price target on Blackbaud from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Baird R W downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st.

Blackbaud Stock Down 3.0 %

BLKB opened at $66.86 on Wednesday. Blackbaud has a one year low of $66.07 and a one year high of $88.95. The company has a debt-to-equity ratio of 7.40, a quick ratio of 0.68 and a current ratio of 0.78. The stock’s fifty day moving average is $75.74 and its 200-day moving average is $80.09. The company has a market capitalization of $3.29 billion, a PE ratio of -11.33 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). The company had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. On average, equities analysts predict that Blackbaud will post 3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Blackbaud

Several large investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of Blackbaud by 1.2% in the 4th quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock valued at $213,263,000 after purchasing an additional 34,600 shares during the period. State Street Corp grew its position in Blackbaud by 3.5% during the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock worth $139,492,000 after acquiring an additional 56,090 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Blackbaud by 3.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock worth $98,262,000 after acquiring an additional 45,835 shares during the last quarter. Geneva Capital Management LLC grew its position in Blackbaud by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock worth $99,541,000 after acquiring an additional 4,122 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Blackbaud by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock valued at $75,393,000 after buying an additional 3,119 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.