Zacks Investment Research upgraded shares of Blackbaud, Inc. (NASDAQ:BLKB) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “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). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America. The ECBU is focused on marketing, sales, delivery and support to all large and/or strategic prospects and customers in North America. The IBU is focused on marketing, sales, delivery and support to all prospects and customers outside of North America. It operates in four geographic regions: the United States, Canada, Europe and Australia. Its portfolio of software and services supports nonprofit fundraising and relationship management, digital marketing, advocacy, accounting, payments and analytics. “

Several other equities analysts have also recently commented on the stock. Benchmark Co. decreased their price target on shares of Blackbaud from $100.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, June 27th. Stifel Nicolaus reissued a buy rating and issued a $96.00 price target on shares of Blackbaud in a research report on Friday, July 21st. Citigroup Inc. started coverage on shares of Blackbaud in a research report on Friday, September 22nd. They issued a buy rating and a $100.00 price target for the company. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a hold rating in a research report on Sunday, October 1st. Finally, B. Riley reissued a neutral rating and issued a $78.00 price target on shares of Blackbaud in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Blackbaud has an average rating of Hold and a consensus target price of $85.25.

Shares of Blackbaud (BLKB) traded down 1.00% during trading on Tuesday, reaching $87.41. 8,407 shares of the company were exchanged. The firm has a 50-day moving average price of $84.78 and a 200-day moving average price of $83.73. Blackbaud has a 1-year low of $55.88 and a 1-year high of $93.81. The stock has a market capitalization of $4.08 billion, a P/E ratio of 84.13 and a beta of 0.84.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, July 31st. The technology company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Blackbaud will post $2.13 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Blackbaud, Inc. (BLKB) Lifted to Hold at Zacks Investment Research” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.watchlistnews.com/blackbaud-inc-blkb-lifted-to-hold-at-zacks-investment-research/1612424.html.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, August 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Blackbaud’s dividend payout ratio (DPR) is currently 47.06%.

In other news, Director George H. Ellis sold 3,000 shares of Blackbaud stock in a transaction on Monday, August 14th. The shares were sold at an average price of $85.40, for a total transaction of $256,200.00. Following the completion of the sale, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $769,539.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jon W. Olson sold 5,282 shares of Blackbaud stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the sale, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,752 shares of company stock valued at $1,771,517. Corporate insiders own 2.19% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Allen Investment Management LLC lifted 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 during the last quarter. JPMorgan Chase & Co. lifted 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 during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Blackbaud during the 2nd quarter worth $1,476,000. Turner Investments LLC purchased a new stake in shares of Blackbaud during the 2nd quarter worth $472,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Blackbaud by 21.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 761,011 shares of the technology company’s stock worth $65,257,000 after purchasing an additional 136,470 shares during 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).

Get a free copy of the Zacks research report on Blackbaud (BLKB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.