Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) Target Price at $86.67

Shares of Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) have been given a consensus rating of "Hold" by the five ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research 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 brokers that have covered the stock in the last year is $86.67.

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

Insider Buying and Selling at Blackbaud

In other news, 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 owns 389,539 shares in the company, valued at $32,429,121.75. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anthony W. Boor sold 10,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.85, for a total value of $848,500.00. Following the completion of the transaction, the chief financial officer now owns 140,262 shares in the company, valued at approximately $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,923 shares of company stock worth $3,737,450. 1.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackbaud

Institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky boosted its stake in Blackbaud by 52.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock valued at $4,770,000 after acquiring an additional 19,270 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Blackbaud by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock worth $19,107,000 after purchasing an additional 7,097 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Blackbaud during the third quarter worth $5,987,000. Millennium Management LLC increased its holdings in Blackbaud by 2,240.8% in the second quarter. Millennium Management LLC now owns 63,411 shares of the technology company's stock valued at $4,830,000 after purchasing an additional 60,702 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Blackbaud by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 320,058 shares of the technology company's stock valued at $27,103,000 after buying an additional 54,138 shares during the period. 94.21% of the stock is owned by institutional investors.

Blackbaud Price Performance

Shares of NASDAQ:BLKB traded up $1.40 during midday trading on Wednesday, reaching $76.50. 116,605 shares of the company's stock were exchanged, compared to its average volume of 145,501. 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 company's 50 day simple moving average is $79.78 and its two-hundred day simple moving average is $80.29. Blackbaud has a 12 month low of $66.47 and a 12 month high of $88.95. The firm has a market capitalization of $3.77 billion, a PE ratio of 75.00 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly 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 business had revenue of $286.70 million for the quarter, compared to the consensus estimate of $293.74 million. During the same quarter in the prior year, the business earned $0.65 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Blackbaud will post 2.6 earnings per share for the current fiscal year.

Blackbaud Company Profile

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.