DA Davidson Reiterates “$110.00” Price Target for Blackbaud (BLKB)
BLKB has been the subject of several other research reports. Evercore ISI cut shares of Blackbaud from an in rating to an underperform rating in a research report on Monday, March 12th. BidaskClub cut shares of Blackbaud from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Zacks Investment Research cut shares of Blackbaud from a buy rating to a hold rating in a research report on Friday, February 9th. Stifel Nicolaus lifted their price target on shares of Blackbaud from $100.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, February 8th. Finally, B. Riley lifted their price target on shares of Blackbaud from $82.00 to $90.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $99.38.
Shares of BLKB stock opened at $108.20 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $5,202.04, a PE ratio of 78.98, a price-to-earnings-growth ratio of 5.48 and a beta of 0.66. Blackbaud has a 1 year low of $74.46 and a 1 year high of $116.07.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, February 27th. Blackbaud’s dividend payout ratio is 35.04%.
In related news, Director Andrew M. Leitch sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $102.96, for a total transaction of $1,029,600.00. Following the completion of the transaction, the director now owns 28,848 shares in the company, valued at $2,970,190.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 10,954 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $94.42, for a total transaction of $1,034,276.68. Following the transaction, the chief financial officer now owns 125,224 shares of the company’s stock, valued at approximately $11,823,650.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,612 shares of company stock valued at $9,344,203. 2.19% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BLKB. BlackRock Inc. grew its holdings in Blackbaud by 1.7% during the fourth quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock valued at $477,772,000 after purchasing an additional 85,826 shares during the period. Guggenheim Capital LLC grew its holdings in Blackbaud by 464.6% during the fourth quarter. Guggenheim Capital LLC now owns 94,602 shares of the technology company’s stock valued at $8,939,000 after purchasing an additional 77,847 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Blackbaud by 11.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock valued at $69,001,000 after purchasing an additional 72,430 shares during the period. State of Tennessee Treasury Department acquired a new position in Blackbaud during the fourth quarter valued at approximately $6,614,000. Finally, MetLife Investment Advisors LLC acquired a new position in Blackbaud during the fourth quarter valued at approximately $4,887,000.
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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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