Blackbaud, Inc. (NASDAQ:BLKB) has received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $76.13.

A number of research firms have issued reports on BLKB. B. Riley lowered shares of Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Wednesday, May 3rd. Benchmark Co. cut their price objective on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Stifel Nicolaus increased their price objective on shares of Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Finally, Raymond James Financial, Inc. began coverage on shares of Blackbaud in a report on Wednesday, April 19th. They set an “outperform” rating and a $90.00 price objective on the stock.

In related news, Director Sarah E. Nash sold 825 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $78.67, for a total transaction of $64,902.75. Following the completion of the sale, the director now owns 20,652 shares of the company’s stock, valued at approximately $1,624,692.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John J. Mistretta sold 4,016 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $83.00, for a total transaction of $333,328.00. Following the sale, the executive vice president now directly owns 87,165 shares of the company’s stock, valued at approximately $7,234,695. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,224 shares of company stock valued at $1,152,915. Corporate insiders own 2.74% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock worth $440,182,000 after buying an additional 5,737,302 shares during the period. Norges Bank purchased a new stake in shares of Blackbaud during the fourth quarter valued at about $42,403,000. Neuberger Berman Group LLC increased its stake in shares of Blackbaud by 208.2% in the first quarter. Neuberger Berman Group LLC now owns 624,541 shares of the technology company’s stock valued at $47,884,000 after buying an additional 421,894 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Blackbaud by 2,074.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 218,009 shares of the technology company’s stock valued at $16,715,000 after buying an additional 207,985 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Blackbaud by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock valued at $325,020,000 after buying an additional 205,672 shares during the period.

Blackbaud (NASDAQ:BLKB) opened at 85.21 on Friday. The stock has a market capitalization of $3.96 billion, a P/E ratio of 86.16 and a beta of 0.76. Blackbaud has a 1-year low of $55.88 and a 1-year high of $92.73. The stock has a 50 day moving average of $84.76 and a 200 day moving average of $75.29.

Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $183.62 million during the quarter, compared to analysts’ expectations of $182.95 million. Blackbaud had a net margin of 6.11% and a return on equity of 31.13%. Blackbaud’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. On average, analysts expect that Blackbaud will post $2.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, May 26th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, May 24th. Blackbaud’s dividend payout ratio (DPR) is presently 50.00%.

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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).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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