Blackbaud (NASDAQ:BLKB - Free Report) had its price objective decreased by Robert W. Baird from $80.00 to $76.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company's stock.
Separately, Baird R W downgraded Blackbaud from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Blackbaud presently has a consensus rating of "Hold" and an average target price of $85.33.
View Our Latest Stock Report on BLKB
Blackbaud Stock Performance
NASDAQ:BLKB traded down $2.30 during trading hours on Wednesday, reaching $66.22. 352,014 shares of the company's stock were exchanged, compared to its average volume of 178,473. Blackbaud has a 1-year low of $66.07 and a 1-year high of $88.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -11.22 and a beta of 1.08. The company has a 50-day moving average of $76.63 and a 200 day moving average of $80.29.
Blackbaud (NASDAQ:BLKB - Get Free Report) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). The business had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Blackbaud had a positive return on equity of 21.42% and a negative net margin of 24.83%. Research analysts anticipate that Blackbaud will post 3.05 EPS for the current year.
Insider Buying and Selling
In related news, CEO Michael P. Gianoni sold 9,479 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the sale, the chief executive officer now directly owns 344,079 shares in the company, valued at $30,323,682.27. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.95% of the company's stock.
Hedge Funds Weigh In On Blackbaud
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky increased its stake in shares of Blackbaud by 52.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company's stock worth $4,770,000 after purchasing an additional 19,270 shares in the last quarter. Entropy Technologies LP acquired a new stake in Blackbaud during the 4th quarter valued at $377,000. JPMorgan Chase & Co. increased its position in Blackbaud by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company's stock worth $19,107,000 after buying an additional 7,097 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company's stock worth $21,670,000 after acquiring an additional 3,739 shares during the last quarter. Finally, Simcoe Capital Management LLC purchased a new stake in shares of Blackbaud in the third quarter valued at $5,987,000. Institutional investors and hedge funds own 94.21% of the company's stock.
About Blackbaud
(
Get Free Report)
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.
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