Blackbaud, Inc. (NASDAQ:BLKB) Receives $86.67 Average Target Price from Analysts

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) has been assigned a consensus rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $85.33.

Several equities analysts have weighed in on BLKB shares. Robert W. Baird cut their target price on Blackbaud from $80.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday. Baird R W cut Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st.

Blackbaud Trading Up 3.1 %

Shares of NASDAQ BLKB traded up $2.02 during mid-day trading on Wednesday, hitting $68.24. The company's stock had a trading volume of 320,736 shares, compared to its average volume of 185,650. Blackbaud has a one year low of $66.07 and a one year high of $88.95. The company's fifty day simple moving average is $76.14 and its 200-day simple moving average is $80.15. The company has a debt-to-equity ratio of 7.40, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -11.57 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a negative net margin of 24.83% and a positive return on equity of 26.30%. The business had revenue of $302.23 million for the quarter, compared to the consensus estimate of $303.41 million. On average, sell-side analysts anticipate that Blackbaud will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 9,479 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the transaction, the chief executive officer now directly owns 344,079 shares in the company, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of Blackbaud

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Blackbaud by 20.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 97,573 shares of the technology company's stock worth $7,213,000 after acquiring an additional 16,890 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in Blackbaud by 350.9% in the 4th quarter. Voloridge Investment Management LLC now owns 95,632 shares of the technology company's stock worth $7,069,000 after purchasing an additional 74,422 shares during the period. Waverly Advisors LLC increased its holdings in Blackbaud by 22.7% during the 4th quarter. Waverly Advisors LLC now owns 20,503 shares of the technology company's stock worth $1,516,000 after purchasing an additional 3,790 shares in the last quarter. Two Sigma Investments LP increased its holdings in Blackbaud by 20.3% during the 4th quarter. Two Sigma Investments LP now owns 3,076 shares of the technology company's stock worth $227,000 after purchasing an additional 518 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Blackbaud in the 4th quarter valued at about $216,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

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.