Blackbaud, Inc. (BLKB) Given Average Rating of “Buy” by Brokerages
Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $94.75.
A number of brokerages have weighed in on BLKB. B. Riley set a $82.00 price target on shares of Blackbaud and gave the company a “hold” rating in a report on Thursday, October 26th. Dougherty & Co began coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Blackbaud from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a “hold” rating in a report on Sunday, October 1st. Finally, Citigroup began coverage on shares of Blackbaud in a report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price target for the company.
Shares of Blackbaud (BLKB) opened at $97.50 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $4,688.77, a price-to-earnings ratio of 58.04, a P/E/G ratio of 6.02 and a beta of 0.83. Blackbaud has a 1-year low of $59.54 and a 1-year high of $104.55.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The business had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. Blackbaud’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. analysts anticipate that Blackbaud will post 1.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s dividend payout ratio is 44.04%.
In other news, EVP Kevin W. Mooney sold 900 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $101.17, for a total value of $91,053.00. Following the completion of the transaction, the executive vice president now owns 77,711 shares in the company, valued at approximately $7,862,021.87. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anthony W. Boor sold 1,989 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the transaction, the chief financial officer now owns 105,342 shares of the company’s stock, valued at approximately $10,350,904.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,655 shares of company stock valued at $972,923. Corporate insiders own 2.19% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Allen Investment Management LLC increased its position in shares of Blackbaud by 69.1% during the 2nd quarter. Allen Investment Management LLC now owns 18,541 shares of the technology company’s stock worth $1,590,000 after purchasing an additional 7,579 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Blackbaud by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 918,865 shares of the technology company’s stock worth $78,792,000 after purchasing an additional 51,747 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Blackbaud during the 2nd quarter worth about $1,476,000. Turner Investments LLC acquired a new stake in shares of Blackbaud during the 2nd quarter worth about $472,000. Finally, Nationwide Fund Advisors increased its position in shares of Blackbaud by 27.2% during the 2nd quarter. Nationwide Fund Advisors now owns 431,506 shares of the technology company’s stock worth $37,002,000 after purchasing an additional 92,379 shares in the last quarter.
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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