Blackbaud (NASDAQ:BLKB) PT Lowered to $95.00

Blackbaud (NASDAQ:BLKB - Get Free Report) had its price objective reduced by research analysts at Raymond James from $98.00 to $95.00 in a report released on Monday, Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Raymond James' price target would indicate a potential upside of 17.47% from the company's current price.

A number of other research firms also recently commented on BLKB. Robert W. Baird boosted their target price on Blackbaud from $88.00 to $92.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Blackbaud from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday, September 26th. Finally, Evercore ISI upgraded shares of Blackbaud to a "hold" rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $90.67.

Blackbaud Price Performance

Shares of NASDAQ:BLKB traded down $1.54 on Monday, reaching $80.87. 160,285 shares of the company were exchanged, compared to its average volume of 236,247. The company has a 50-day moving average of $80.98 and a 200-day moving average of $78.16. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.73. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 198.71 and a beta of 1.02. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56.

Blackbaud (NASDAQ:BLKB - Get Free Report) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Blackbaud had a net margin of 3.64% and a return on equity of 18.54%. The company had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that Blackbaud will post 2.46 earnings per share for the current fiscal year.

Blackbaud declared that its board has authorized a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, SVP Jon W. Olson sold 2,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the transaction, the senior vice president now owns 24,025 shares of the company's stock, valued at approximately $2,042,125. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP David J. Benjamin sold 5,590 shares of Blackbaud stock in a transaction on Friday, August 16th. The stock was sold at an average price of $78.04, for a total value of $436,243.60. Following the completion of the sale, the executive vice president now owns 51,108 shares of the company's stock, valued at $3,988,468.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon W. Olson sold 2,000 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the transaction, the senior vice president now owns 24,025 shares of the company's stock, valued at $2,042,125. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,409 shares of company stock worth $4,483,193 over the last three months. 1.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackbaud

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DT Investment Partners LLC acquired a new stake in shares of Blackbaud in the second quarter worth approximately $33,000. Quest Partners LLC boosted its holdings in shares of Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company's stock valued at $33,000 after purchasing an additional 413 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Blackbaud during the 1st quarter valued at $54,000. EntryPoint Capital LLC increased its holdings in shares of Blackbaud by 447.8% during the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company's stock worth $188,000 after buying an additional 2,078 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of Blackbaud in the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 94.21% of the company's stock.

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.