Shares of Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) have earned a consensus rating of "Hold" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $86.67.
BLKB has been the subject of a number of research reports. Baird R W lowered shares of Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Raymond James dropped their target price on Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Stifel Nicolaus upped their price target on shares of Blackbaud from $80.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, September 26th. Finally, Robert W. Baird downgraded shares of Blackbaud from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $92.00 to $80.00 in a report on Thursday, October 31st.
Read Our Latest Stock Analysis on Blackbaud
Insider Transactions at Blackbaud
In other Blackbaud news, COO Kevin P. Gregoire sold 6,619 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $85.68, for a total value of $567,115.92. Following the completion of the transaction, the chief operating officer now directly owns 99,096 shares in the company, valued at $8,490,545.28. This represents a 6.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the sale, the director now owns 23,723 shares in the company, valued at approximately $1,992,257.54. The trade was a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,923 shares of company stock valued at $3,737,450 over the last quarter. 1.95% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Blackbaud
Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in Blackbaud by 1.2% in the second quarter. Arizona State Retirement System now owns 11,977 shares of the technology company's stock worth $912,000 after acquiring an additional 137 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Blackbaud by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,152 shares of the technology company's stock valued at $2,045,000 after purchasing an additional 151 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Blackbaud by 6.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company's stock valued at $239,000 after purchasing an additional 184 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Blackbaud by 2.1% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company's stock valued at $850,000 after buying an additional 225 shares during the period. Finally, Inspire Investing LLC boosted its stake in Blackbaud by 6.4% during the third quarter. Inspire Investing LLC now owns 4,879 shares of the technology company's stock worth $413,000 after buying an additional 292 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.
Blackbaud Stock Up 0.2 %
Shares of Blackbaud stock traded up $0.12 during midday trading on Friday, hitting $76.31. The company had a trading volume of 667,881 shares, compared to its average volume of 232,634. The stock has a market capitalization of $3.87 billion, a P/E ratio of 74.81 and a beta of 1.06. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud has a 52-week low of $66.47 and a 52-week high of $88.95. The company has a 50 day moving average of $82.57 and a 200 day moving average of $80.44.
Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share 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 during the quarter, compared to analysts' expectations of $293.74 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Blackbaud's revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that Blackbaud will post 2.6 earnings per share for the current fiscal year.
About Blackbaud
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Get Free ReportBlackbaud, 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.
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