Blackbaud, Inc. (NASDAQ:BLKB) had its price target boosted by equities research analysts at Robert W. Baird from $85.00 to $95.00 in a report issued on Monday. The firm currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 2.78% from the stock’s current price.

BLKB has been the topic of several other reports. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Citigroup Inc. began coverage on shares of Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $96.00 target price on shares of Blackbaud in a research report on Friday, July 21st. B. Riley reiterated a “neutral” rating and set a $78.00 target price on shares of Blackbaud in a research report on Wednesday, August 23rd. Finally, Benchmark Co. decreased their target price on shares of Blackbaud from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Blackbaud presently has an average rating of “Hold” and a consensus target price of $87.00.

Shares of Blackbaud (NASDAQ:BLKB) traded down 0.61% during trading on Monday, reaching $92.43. 245,307 shares of the company’s stock were exchanged. The company has a market capitalization of $4.31 billion, a PE ratio of 88.96 and a beta of 0.84. The company has a 50 day moving average price of $86.99 and a 200-day moving average price of $84.89. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.95.

Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.12). Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business had revenue of $192.50 million for the quarter, compared to analyst estimates of $193.66 million. During the same quarter last year, the firm posted $0.46 earnings per share. Blackbaud’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Blackbaud will post $2.13 earnings per share for the current year.

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In other Blackbaud news, EVP Kevin W. Mooney sold 2,338 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $88.00, for a total value of $205,744.00. Following the completion of the transaction, the executive vice president now directly owns 83,638 shares of the company’s stock, valued at $7,360,144. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jon W. Olson sold 5,282 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.24, for a total transaction of $444,955.68. Following the completion of the transaction, the senior vice president now directly owns 50,756 shares of the company’s stock, valued at $4,275,685.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,752 shares of company stock worth $1,771,517. Company insiders own 2.19% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BLKB. UBS Asset Management Americas Inc. raised its stake in shares of Blackbaud by 20.9% in the first quarter. UBS Asset Management Americas Inc. now owns 25,200 shares of the technology company’s stock worth $1,932,000 after acquiring an additional 4,362 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Blackbaud by 15.1% in the first quarter. OppenheimerFunds Inc. now owns 7,918 shares of the technology company’s stock worth $607,000 after acquiring an additional 1,038 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Blackbaud by 3.4% in the first quarter. Teachers Advisors LLC now owns 94,092 shares of the technology company’s stock worth $7,214,000 after acquiring an additional 3,119 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Blackbaud by 3.2% in the first quarter. California Public Employees Retirement System now owns 70,800 shares of the technology company’s stock worth $5,428,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Blackbaud by 1.6% in the first quarter. Legal & General Group Plc now owns 83,886 shares of the technology company’s stock worth $6,430,000 after acquiring an additional 1,323 shares during the last quarter.

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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