Blackbaud Inc. (BLKB) Now Covered by Analysts at JMP Securities
Equities research analysts at JMP Securities initiated coverage on shares of Blackbaud Inc. (NASDAQ:BLKB) in a report issued on Thursday. The brokerage set an “outperform” rating on the stock.
Other analysts also recently issued research reports about the company. Evercore Partners Inc. began coverage on Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating on the stock. B. Riley reaffirmed a “buy” rating and issued a $77.00 price target on shares of Blackbaud in a report on Wednesday, August 3rd. Wunderlich upped their price target on Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Finally, Evercore ISI began coverage on Blackbaud in a report on Monday, June 27th. They issued a “hold” rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.90.
Blackbaud (NASDAQ:BLKB) opened at 64.11 on Thursday. The stock has a market cap of $2.95 billion, a PE ratio of 110.53 and a beta of 1.16. The stock has a 50 day moving average price of $66.35 and a 200-day moving average price of $65.31. Blackbaud has a one year low of $49.89 and a one year high of $71.76.
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Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. The company earned $180.20 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Blackbaud will post $1.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, August 26th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.48 annualized dividend and a yield of 0.75%. Blackbaud’s payout ratio is 81.36%.
In related news, insider Michael P. Gianoni sold 11,500 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $66.84, for a total value of $768,660.00. Following the completion of the transaction, the insider now directly owns 254,429 shares in the company, valued at $17,006,034.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joyce Nelson sold 600 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $68.11, for a total value of $40,866.00. Following the completion of the transaction, the director now owns 15,254 shares of the company’s stock, valued at $1,038,949.94. The disclosure for this sale can be found here. 2.74% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark acquired a new position in shares of Blackbaud during the third quarter valued at $0. LS Investment Advisors LLC raised its position in shares of Blackbaud by 3.6% in the second quarter. LS Investment Advisors LLC now owns 1,696 shares of the company’s stock valued at $115,000 after buying an additional 59 shares during the last quarter. Invictus RG raised its position in shares of Blackbaud by 264.9% in the first quarter. Invictus RG now owns 1,912 shares of the company’s stock valued at $120,000 after buying an additional 1,388 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Blackbaud by 2,651.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,816 shares of the company’s stock valued at $124,000 after buying an additional 1,750 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Blackbaud by 49.0% in the first quarter. BlackRock Inc. now owns 3,197 shares of the company’s stock valued at $201,000 after buying an additional 1,052 shares during the last quarter.
Blackbaud Company Profile
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s 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.
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