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

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) has been given an average rating of "Hold" by the five research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $86.67.

Several research firms have commented on BLKB. Robert W. Baird cut shares of Blackbaud from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $92.00 to $80.00 in a research note on Thursday, October 31st. Evercore ISI raised Blackbaud to a "hold" rating in a report on Thursday, August 1st. Baird R W cut Blackbaud from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on 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 decreased their target price on Blackbaud from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, October 7th.

Blackbaud Stock Performance

NASDAQ:BLKB traded down $1.06 during mid-day trading on Tuesday, hitting $86.41. The stock had a trading volume of 225,099 shares, compared to its average volume of 232,924. Blackbaud has a 52 week low of $66.47 and a 52 week high of $88.95. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 84.72 and a beta of 1.03. The company has a 50 day simple moving average of $83.65 and a 200-day simple moving average of $80.19.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (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 during the quarter, compared to the consensus estimate of $293.74 million. During the same period last year, the company earned $0.65 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Blackbaud will post 2.6 earnings per share for the current fiscal year.

Blackbaud declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 18.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Blackbaud

In other Blackbaud news, EVP Kevin Mcdearis sold 18,996 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $83.00, for a total transaction of $1,576,668.00. Following the sale, the executive vice president now directly owns 67,012 shares of the company's stock, valued at $5,561,996. The trade was a 22.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sarah E. Nash sold 3,100 shares of Blackbaud stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.98, for a total value of $260,338.00. Following the transaction, the director now owns 23,723 shares in the company, valued at $1,992,257.54. This represents a 11.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,390 shares of company stock valued at $6,369,938 over the last three months. Company insiders own 1.95% of the company's stock.

Institutional Trading of Blackbaud

Several institutional investors have recently made changes to their positions in BLKB. Arizona State Retirement System lifted its position in Blackbaud by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 11,977 shares of the technology company's stock worth $912,000 after buying an additional 137 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Blackbaud by 0.6% during the third 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. grew its stake in Blackbaud by 6.2% in the second 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 in the last quarter. Azzad Asset Management Inc. ADV increased its position in Blackbaud by 2.1% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company's stock worth $850,000 after purchasing an additional 225 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Blackbaud by 6.4% during the 3rd quarter. Inspire Investing LLC now owns 4,879 shares of the technology company's stock worth $413,000 after purchasing an additional 292 shares in the last quarter. 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.