Blackbaud, Inc. (BLKB) Receives Consensus Recommendation of “Hold” from Brokerages
Blackbaud, Inc. (NASDAQ:BLKB) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the company. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $75.44.
Several analysts recently commented on the company. B. Riley lowered Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Wednesday, May 3rd. Wunderlich lowered Blackbaud from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a research note on Friday, February 10th. Stifel Nicolaus boosted their price target on Blackbaud from $79.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $90.00 price target (up previously from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd.
In other Blackbaud news, EVP Kevin W. Mooney sold 5,094 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $79.11, for a total value of $402,986.34. Following the transaction, the executive vice president now owns 85,976 shares of the company’s stock, valued at $6,801,561.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John J. Mistretta sold 2,500 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $76.00, for a total value of $190,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,778 shares in the company, valued at approximately $6,291,128. The disclosure for this sale can be found here. In the last three months, insiders sold 20,879 shares of company stock worth $1,579,646. Insiders own 2.74% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BLKB. Northwestern Mutual Wealth Management Co. raised its position in Blackbaud by 18.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock worth $115,000 after buying an additional 230 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new position in Blackbaud during the fourth quarter worth approximately $129,000. Foundry Partners LLC acquired a new position in Blackbaud during the first quarter worth approximately $201,000. Pacad Investment Ltd. acquired a new position in Blackbaud during the fourth quarter worth approximately $173,000. Finally, Raymond James Trust N.A. acquired a new position in Blackbaud during the first quarter worth approximately $220,000.
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Shares of Blackbaud (NASDAQ:BLKB) opened at 79.87 on Tuesday. Blackbaud has a 1-year low of $55.88 and a 1-year high of $81.68. The company has a market capitalization of $3.71 billion, a PE ratio of 80.76 and a beta of 0.93. The firm has a 50-day moving average price of $78.09 and a 200-day moving average price of $70.07.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, May 1st. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $183.62 million during the quarter, compared to analyst estimates of $182.95 million. Blackbaud had a net margin of 5.34% and a return on equity of 30.77%. Blackbaud’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. Equities analysts anticipate that Blackbaud will post $2.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, May 24th. Blackbaud’s dividend payout ratio is currently 57.83%.
Blackbaud Company Profile
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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