$203.52 Million in Sales Expected for Blackbaud, Inc. (BLKB) This Quarter

Wall Street analysts predict that Blackbaud, Inc. (NASDAQ:BLKB) will report $203.52 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Blackbaud’s earnings, with estimates ranging from $199.43 million to $207.00 million. Blackbaud reported sales of $183.62 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.8%. The company is expected to issue its next earnings report on Monday, May 7th.

According to Zacks, analysts expect that Blackbaud will report full-year sales of $203.52 million for the current year, with estimates ranging from $861.96 million to $882.28 million. For the next financial year, analysts expect that the firm will report sales of $952.63 million per share, with estimates ranging from $936.01 million to $967.73 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Blackbaud.

Several brokerages have weighed in on BLKB. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday. DA Davidson began coverage on Blackbaud in a report on Friday, February 2nd. They issued a “neutral” rating and a $95.00 price target for the company. BidaskClub downgraded Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Dougherty & Co initiated coverage on Blackbaud in a research note 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 issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $93.44.

Shares of Blackbaud (BLKB) opened at $99.34 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. The firm has a market capitalization of $4,412.22, a PE ratio of 55.27, a price-to-earnings-growth ratio of 5.28 and a beta of 0.75. Blackbaud has a twelve month low of $61.98 and a twelve month high of $104.55.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Tuesday, February 27th. Blackbaud’s payout ratio is 35.04%.

In other news, EVP Brian Boruff sold 800 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 50,862 shares in the company, valued at $5,287,104.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 4,466 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total value of $451,066.00. Following the completion of the transaction, the executive vice president now owns 71,655 shares of the company’s stock, valued at $7,237,155. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.

Several large investors have recently made changes to their positions in BLKB. QS Investors LLC raised its stake in shares of Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Blackbaud during the fourth quarter valued at approximately $157,000. Verition Fund Management LLC purchased a new position in Blackbaud during the second quarter valued at approximately $228,000. M&T Bank Corp purchased a new position in Blackbaud during the second quarter valued at approximately $233,000. Finally, Shelton Capital Management purchased a new position in Blackbaud during the third quarter valued at approximately $235,000.

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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).

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