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

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have earned a consensus rating of “Hold” from the four analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $86.67.

A number of analysts have recently issued reports on BLKB shares. Evercore ISI upgraded Blackbaud to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird downgraded Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $80.00 in a research note on Thursday. Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Raymond James dropped their target price on Blackbaud from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Stifel Nicolaus raised their price target on shares of Blackbaud from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, September 26th.

Insiders Place Their Bets

In other news, EVP Kevin Mcdearis sold 2,261 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the transaction, the executive vice president now owns 60,129 shares in the company, valued at approximately $5,118,180.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blackbaud news, SVP Jon W. Olson sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $76.00, for a total transaction of $304,000.00. Following the completion of the sale, the senior vice president now owns 29,628 shares of the company’s stock, valued at $2,251,728. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Mcdearis sold 2,261 shares of Blackbaud stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $85.12, for a total transaction of $192,456.32. Following the completion of the transaction, the executive vice president now directly owns 60,129 shares in the company, valued at approximately $5,118,180.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,409 shares of company stock valued at $4,483,193 over the last ninety days. Corporate insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLKB. DT Investment Partners LLC acquired a new stake in shares of Blackbaud in the second quarter valued at about $33,000. Quest Partners LLC boosted its stake in Blackbaud by 2,950.0% during the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock valued at $33,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. grew its holdings in Blackbaud by 190.4% in the 3rd quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock valued at $135,000 after buying an additional 1,047 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Blackbaud by 447.8% in the 1st quarter. EntryPoint Capital LLC now owns 2,542 shares of the technology company’s stock valued at $188,000 after buying an additional 2,078 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new position in Blackbaud in the 2nd quarter worth approximately $201,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Price Performance

NASDAQ BLKB opened at $75.51 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.80 and a debt-to-equity ratio of 1.79. Blackbaud has a 1 year low of $64.74 and a 1 year high of $88.56. The company has a market cap of $3.90 billion, a PE ratio of 74.03 and a beta of 1.02. The stock’s 50-day moving average price is $83.38 and its two-hundred day moving average price is $79.56.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Blackbaud had a net margin of 4.61% and a return on equity of 20.34%. The business had revenue of $287.29 million for the quarter, compared to analyst estimates of $289.26 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Blackbaud will post 2.45 EPS for the current year.

Blackbaud announced that its board has authorized a share buyback program on Tuesday, July 30th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to repurchase up to 18.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.