BidaskClub Downgrades Blackbaud (BLKB) to Sell

Blackbaud (NASDAQ:BLKB) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

BLKB has been the subject of a number of other reports. Citigroup assumed coverage on Blackbaud in a research report on Friday, September 22nd. They set a “buy” rating and a $100.00 price objective for the company. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Monday, October 30th. B. Riley set a $82.00 price objective on Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 26th. 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. Finally, Dougherty & Co started coverage on Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Blackbaud presently has an average rating of “Hold” and a consensus price target of $94.75.

Shares of Blackbaud (NASDAQ BLKB) traded up $1.32 during trading on Friday, hitting $95.80. The stock had a trading volume of 302,137 shares, compared to its average volume of 154,359. Blackbaud has a 1-year low of $61.98 and a 1-year high of $104.55. The firm has a market capitalization of $4,607.02, a P/E ratio of 57.02, a PEG ratio of 5.14 and a beta of 0.83. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $196.35 million. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts forecast that Blackbaud will post 1.57 EPS for the current year.

In other news, EVP Brian Boruff sold 800 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the sale, the executive vice president now directly owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George H. Ellis sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $101.47, for a total value of $152,205.00. Following the completion of the sale, the director now directly owns 7,511 shares of the company’s stock, valued at $762,141.17. The disclosure for this sale can be found here. Insiders sold 9,655 shares of company stock valued at $972,923 over the last ninety days. 2.19% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after acquiring an additional 39 shares during the period. 1st Global Advisors Inc. boosted its holdings in shares of Blackbaud by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock valued at $822,000 after acquiring an additional 57 shares during the period. Advisor Group Inc. boosted its holdings in shares of Blackbaud by 2.1% in the second quarter. Advisor Group Inc. now owns 3,108 shares of the technology company’s stock valued at $265,000 after acquiring an additional 65 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Blackbaud by 2.1% in the second quarter. Pinebridge Investments L.P. now owns 6,329 shares of the technology company’s stock valued at $542,000 after acquiring an additional 128 shares during the period. Finally, Flinton Capital Management LLC boosted its holdings in shares of Blackbaud by 6.0% in the second quarter. Flinton Capital Management LLC now owns 3,408 shares of the technology company’s stock valued at $292,000 after acquiring an additional 192 shares during the period.

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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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