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

Blackbaud, Inc. (NASDAQ:BLKB - Get Free Report) has received a consensus rating of "Hold" from the five analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $86.67.

Several brokerages have recently weighed in on BLKB. Evercore ISI upgraded shares of Blackbaud to a "hold" rating in a research note on Thursday, August 1st. Baird R W downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a research note on Thursday, September 26th. Robert W. Baird downgraded Blackbaud from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $92.00 to $80.00 in a report on Thursday. Finally, Raymond James dropped their price objective on Blackbaud from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, October 7th.

Insider Activity

In other news, EVP David J. Benjamin sold 5,590 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $78.04, for a total value of $436,243.60. Following the transaction, the executive vice president now directly owns 51,108 shares in the company, valued at approximately $3,988,468.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP David J. Benjamin sold 5,590 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $78.04, for a total transaction of $436,243.60. Following the completion of the transaction, the executive vice president now directly owns 51,108 shares of the company's stock, valued at approximately $3,988,468.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Mcdearis sold 18,996 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $83.00, for a total value of $1,576,668.00. Following the completion of the sale, the executive vice president now directly owns 67,012 shares in the company, valued at approximately $5,561,996. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,409 shares of company stock worth $4,483,193. 1.95% of the stock is currently owned by insiders.

Institutional Trading of Blackbaud

A number of large investors have recently modified their holdings of BLKB. Vanguard Group Inc. increased its stake in shares of Blackbaud by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,646,203 shares of the technology company's stock valued at $418,609,000 after purchasing an additional 71,619 shares during the period. Janus Henderson Group PLC increased its position in Blackbaud by 1.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,840,576 shares of the technology company's stock valued at $210,599,000 after acquiring an additional 53,057 shares during the period. Geneva Capital Management LLC raised its stake in Blackbaud by 12.7% during the 1st quarter. Geneva Capital Management LLC now owns 1,195,891 shares of the technology company's stock valued at $88,663,000 after acquiring an additional 135,103 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Blackbaud by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,036,467 shares of the technology company's stock worth $78,949,000 after acquiring an additional 8,761 shares during the period. Finally, Van Berkom & Associates Inc. boosted its position in Blackbaud by 1.6% during the 2nd quarter. Van Berkom & Associates Inc. now owns 657,419 shares of the technology company's stock worth $50,076,000 after acquiring an additional 10,203 shares during the period. Institutional investors and hedge funds own 94.21% of the company's stock.

Blackbaud Trading Up 2.9 %

Shares of Blackbaud stock traded up $2.21 during trading hours on Friday, hitting $77.72. The company's stock had a trading volume of 386,737 shares, compared to its average volume of 229,712. The company has a quick ratio of 0.80, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $4.01 billion, a PE ratio of 76.20 and a beta of 1.02. The business has a fifty day moving average of $83.30 and a 200 day moving average of $79.55. Blackbaud has a 1-year low of $66.47 and a 1-year high of $88.56.

Blackbaud (NASDAQ:BLKB - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same period in the previous year, the company posted $0.49 EPS. Blackbaud's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Blackbaud will post 2.45 EPS for the current year.

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

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.