Blackbaud Inc. (BLKB) Receives New Coverage from Analysts at JMP Securities
Analysts at JMP Securities initiated coverage on shares of Blackbaud Inc. (NASDAQ:BLKB) in a research note issued on Thursday. The brokerage set an “outperform” rating on the stock.
A number of other research analysts have also issued reports on BLKB. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Evercore ISI began coverage on Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating and a $70.00 price target on the stock. Evercore Partners Inc. began coverage on Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating on the stock. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price target on shares of Blackbaud in a research note on Wednesday, June 29th. Finally, Stifel Nicolaus lifted their price target on Blackbaud from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. 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 presently has a consensus rating of “Hold” and a consensus price target of $70.90.
Shares of Blackbaud (NASDAQ:BLKB) opened at 64.11 on Thursday. The firm has a market cap of $2.95 billion, a P/E ratio of 110.53 and a beta of 1.16. Blackbaud has a 52-week low of $49.89 and a 52-week high of $71.76. The company’s 50-day moving average is $66.35 and its 200-day moving average is $65.31.
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Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, August 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $180.20 million for the quarter, compared to analyst estimates of $182.05 million. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. Blackbaud’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities research analysts forecast 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. Shareholders of record on Friday, August 26th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. Blackbaud’s payout ratio is presently 81.36%.
In other news, Director Joyce Nelson sold 600 shares of Blackbaud stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $68.11, for a total transaction of $40,866.00. Following the completion of the sale, the director now directly owns 15,254 shares in the company, valued at approximately $1,038,949.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jon W. Olson sold 4,500 shares of Blackbaud stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.88, for a total value of $300,960.00. Following the sale, the senior vice president now owns 33,404 shares of the company’s stock, valued at $2,234,059.52. The disclosure for this sale can be found here. Company insiders own 2.74% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Atlanta Capital Management Co. L L C raised its stake in shares of Blackbaud by 5.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,539,544 shares of the company’s stock valued at $308,235,000 after buying an additional 254,792 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Blackbaud by 0.5% in the second quarter. Janus Capital Management LLC now owns 4,182,144 shares of the company’s stock valued at $283,968,000 after buying an additional 19,457 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Blackbaud by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,772,504 shares of the company’s stock valued at $256,154,000 after buying an additional 61,918 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Blackbaud by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,116,655 shares of the company’s stock valued at $211,621,000 after buying an additional 98,142 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in shares of Blackbaud by 12.8% in the second quarter. Champlain Investment Partners LLC now owns 1,252,110 shares of the company’s stock valued at $85,018,000 after buying an additional 141,820 shares in the last quarter.
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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