Blackbaud (NASDAQ:BLKB) Rating Increased to Hold at Evercore ISI

Blackbaud (NASDAQ:BLKB) was upgraded by analysts at Evercore ISI to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Blackbaud from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday.

Blackbaud Trading Down 2.4 %

NASDAQ:BLKB opened at $76.32 on Thursday. The company has a 50-day moving average price of $77.16 and a 200-day moving average price of $76.42. Blackbaud has a 12 month low of $64.32 and a 12 month high of $88.56. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 1.73. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 186.15 and a beta of 1.01.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Tuesday, July 30th. The technology company reported $1.08 EPS 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 firm had revenue of $287.29 million during the quarter, compared to analysts’ expectations of $289.26 million. During the same period last year, the company posted $0.49 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts predict that Blackbaud will post 2.27 EPS for the current year.

Insider Buying and Selling at Blackbaud

In other Blackbaud news, SVP Jon W. Olson sold 3,000 shares of Blackbaud stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $78.63, for a total transaction of $235,890.00. Following the transaction, the senior vice president now owns 33,628 shares of the company’s stock, valued at $2,644,169.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anthony W. Boor sold 1,106 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $78.86, for a total value of $87,219.16. Following the transaction, the chief financial officer now owns 150,262 shares of the company’s stock, valued at $11,849,661.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jon W. Olson sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.63, for a total transaction of $235,890.00. Following the completion of the transaction, the senior vice president now directly owns 33,628 shares in the company, valued at approximately $2,644,169.64. The disclosure for this sale can be found here. Insiders have sold 32,476 shares of company stock valued at $2,547,161 over the last 90 days. 1.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackbaud

A number of hedge funds have recently bought and sold shares of the business. Legacy Capital Wealth Partners LLC purchased a new stake in Blackbaud during the second quarter valued at $201,000. Natixis Advisors LLC increased its position in Blackbaud by 14.4% during the second quarter. Natixis Advisors LLC now owns 17,420 shares of the technology company’s stock valued at $1,327,000 after acquiring an additional 2,188 shares during the last quarter. Heritage Family Offices LLP bought a new position in Blackbaud during the second quarter valued at $220,000. First Personal Financial Services bought a new position in Blackbaud during the second quarter valued at $1,007,000. Finally, Azzad Asset Management Inc. ADV increased its position in Blackbaud by 2.1% during the second quarter. Azzad Asset Management Inc. ADV now owns 11,164 shares of the technology company’s stock valued at $850,000 after acquiring an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Company Profile

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.