Blackbaud, Inc. (NASDAQ:BLKB) Given Average Recommendation of "Hold" by Analysts

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) has earned an average recommendation of "Hold" from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research 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 brokers that have issued a report on the stock in the last year is $85.33.

Separately, Robert W. Baird lowered their price objective on shares of Blackbaud from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On Blackbaud

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLKB. Norges Bank bought a new stake in shares of Blackbaud in the 4th quarter valued at about $34,168,000. ArrowMark Colorado Holdings LLC increased its position in shares of Blackbaud by 22.5% during the third 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Blackbaud by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 429,051 shares of the technology company's stock worth $36,332,000 after purchasing an additional 154,019 shares in the last quarter. Penn Capital Management Company LLC purchased a new position in Blackbaud during the 4th quarter worth $10,581,000. Finally, Bank of New York Mellon Corp grew its stake in Blackbaud by 41.0% during the 4th quarter. Bank of New York Mellon Corp now owns 482,561 shares of the technology company's stock worth $35,671,000 after buying an additional 140,273 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company's stock.

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Blackbaud Trading Up 1.0 %

Blackbaud stock traded up $0.63 during trading hours on Friday, hitting $64.52. The company had a trading volume of 278,532 shares, compared to its average volume of 259,055. The firm has a market cap of $3.18 billion, a P/E ratio of -10.95 and a beta of 1.08. The company has a 50-day moving average price of $72.69 and a two-hundred day moving average price of $78.55. Blackbaud has a 1 year low of $62.99 and a 1 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.

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