Blackbaud, Inc. (NASDAQ:BLKB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.67.

A number of analysts have recently weighed in on the stock. Raymond James reduced their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Stifel Nicolaus upped their price objective on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, September 26th. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $80.00 in a report on Thursday, October 31st. Finally, Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st.

Insider Activity

In other news, CEO Michael P. Gianoni sold 9,479 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the sale, the chief executive officer now directly owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony W. Boor sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.85, for a total transaction of $848,500.00. Following the completion of the transaction, the chief financial officer now directly owns 140,262 shares in the company, valued at $11,901,230.70. This represents a 6.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,923 shares of company stock valued at $3,737,450. 1.95% of the stock is currently owned by insiders.

Institutional Trading of Blackbaud

A number of large investors have recently modified their holdings of the company. Tributary Capital Management LLC raised its position in Blackbaud by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after purchasing an additional 3,739 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Blackbaud by 11.6% in the fourth quarter. Inspire Investing LLC now owns 5,445 shares of the technology company’s stock valued at $402,000 after acquiring an additional 566 shares in the last quarter. Heritage Family Offices LLP lifted its stake in Blackbaud by 5.9% in the fourth quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after acquiring an additional 166 shares during the period. Brookstone Capital Management grew its holdings in Blackbaud by 3.7% during the 4th quarter. Brookstone Capital Management now owns 7,612 shares of the technology company’s stock worth $563,000 after acquiring an additional 275 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Blackbaud by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock valued at $19,107,000 after purchasing an additional 7,097 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Blackbaud Trading Up 0.4 %

Shares of BLKB stock opened at $78.36 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 76.82 and a beta of 1.08. Blackbaud has a 12-month low of $66.47 and a 12-month high of $88.95. The stock’s 50-day moving average price is $79.08 and its 200-day moving average price is $80.36.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.08). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The firm had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that Blackbaud will post 2.6 EPS for the current fiscal year.

About Blackbaud

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.