Blackbaud, Inc. (BLKB) Given Average Rating of “Hold” by Brokerages
Blackbaud, Inc. (NASDAQ:BLKB) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $91.44.
A number of brokerages recently commented on BLKB. Stifel Nicolaus reissued a “buy” rating and issued a $96.00 price target on shares of Blackbaud in a report on Friday, July 21st. Zacks Investment Research raised Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. B. Riley reissued a “neutral” rating and issued a $78.00 price target on shares of Blackbaud in a report on Wednesday, August 2nd. Citigroup Inc. began coverage on Blackbaud in a report on Friday, September 22nd. They issued a “buy” rating and a $100.00 price target for the company. Finally, Robert W. Baird set a $85.00 price target on Blackbaud and gave the company a “hold” rating in a report on Sunday, October 1st.
In other Blackbaud news, Director George H. Ellis sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $101.47, for a total transaction of $152,205.00. Following the transaction, the director now owns 7,511 shares of the company’s stock, valued at approximately $762,141.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin W. Mooney sold 900 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $101.17, for a total value of $91,053.00. Following the transaction, the executive vice president now directly owns 77,711 shares in the company, valued at approximately $7,862,021.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,814 shares of company stock worth $1,457,951. 2.19% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in Blackbaud by 18.7% during the 3rd quarter. Pacer Advisors Inc. now owns 5,614 shares of the technology company’s stock worth $493,000 after buying an additional 886 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Blackbaud by 0.3% during the 3rd quarter. Macquarie Group Ltd. now owns 228,300 shares of the technology company’s stock worth $20,045,000 after buying an additional 655 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Blackbaud by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 648,312 shares of the technology company’s stock worth $56,920,000 after buying an additional 30,850 shares during the last quarter. Rhumbline Advisers lifted its holdings in Blackbaud by 16.3% during the 3rd quarter. Rhumbline Advisers now owns 112,906 shares of the technology company’s stock worth $9,913,000 after buying an additional 15,831 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Blackbaud by 28.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,540 shares of the technology company’s stock worth $1,277,000 after buying an additional 3,190 shares during the last quarter.
Shares of Blackbaud (BLKB) opened at $99.75 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud has a 12 month low of $59.29 and a 12 month high of $103.41. The stock has a market capitalization of $4,745.00, a PE ratio of 58.73, a PEG ratio of 4.00 and a beta of 0.86.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The business had revenue of $195.51 million during the quarter, compared to analyst estimates of $196.35 million. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. analysts expect that Blackbaud will post 1.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, November 27th. Blackbaud’s dividend payout ratio is currently 44.04%.
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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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