Blackbaud (BLKB) Cut to Hold at BidaskClub
BidaskClub downgraded shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
Other analysts have also issued reports about the stock. Citigroup started coverage on shares of Blackbaud in a research note on Friday, September 22nd. They issued a buy rating and a $100.00 price objective for the company. Zacks Investment Research raised shares of Blackbaud from a hold rating to a buy rating and set a $115.00 price objective for the company in a research note on Monday, October 30th. B. Riley set a $82.00 price objective on shares of Blackbaud and gave the stock a hold rating in a research note on Thursday, October 26th. Robert W. Baird set a $85.00 price objective on shares of Blackbaud and gave the stock a hold rating in a research note on Sunday, October 1st. Finally, Dougherty & Co started coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a neutral rating for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $94.75.
Shares of Blackbaud (BLKB) opened at $94.49 on Wednesday. The stock has a market cap of $4,540.00, a price-to-earnings ratio of 85.90, a PEG ratio of 5.07 and a beta of 0.82. Blackbaud has a one year low of $61.98 and a one year high of $104.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. The firm had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. sell-side analysts predict that Blackbaud will post 1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, November 27th. Blackbaud’s payout ratio is 43.64%.
In other news, EVP Kevin W. Mooney sold 900 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total transaction of $91,053.00. Following the transaction, the executive vice president now owns 77,711 shares in the company, valued at $7,862,021.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony W. Boor sold 1,989 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the transaction, the chief financial officer now owns 105,342 shares in the company, valued at approximately $10,350,904.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,655 shares of company stock worth $972,923. Corporate insiders own 2.19% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BLKB. JPMorgan Chase & Co. increased its holdings in Blackbaud by 6.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after buying an additional 51,747 shares during the period. Russell Investments Group Ltd. acquired a new position in Blackbaud in the 2nd quarter worth approximately $1,476,000. Nationwide Fund Advisors increased its holdings in Blackbaud by 27.2% in the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock worth $37,002,000 after buying an additional 92,379 shares during the period. Sciencast Management LP acquired a new position in Blackbaud in the 2nd quarter worth approximately $403,000. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Blackbaud by 28.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock worth $1,277,000 after buying an additional 3,190 shares during the period.
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Blackbaud Company Profile
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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