Blackbaud (BLKB) Downgraded by Zacks Investment Research

Blackbaud (NASDAQ:BLKB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Blackbaud Inc. combines technology and expertise to help organizations achieve their missions. Blackbaud works with more than 30,000 customers in over 60 countries that support higher education, healthcare, human services, arts and culture, faith, the environment, independent K-12 education, animal welfare and other charitable causes. The company offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics and vertical-specific solutions. Using Blackbaud technology, these organizations raise more than $100 billion each year. “

Several other research analysts also recently weighed in on BLKB. B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a research report on Thursday, October 19th. Robert W. Baird lifted their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a research report on Friday, October 27th. Dougherty & Co initiated coverage on shares of Blackbaud in a research report on Tuesday, October 31st. They issued a “neutral” rating on the stock. Finally, BidaskClub downgraded shares of Blackbaud from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $95.33.

Blackbaud (BLKB) traded down $0.63 during trading on Friday, hitting $93.58. 594,839 shares of the stock traded hands, compared to its average volume of 306,994. The stock has a market capitalization of $4,777.22, a P/E ratio of 68.31, a P/E/G ratio of 5.66 and a beta of 0.75. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.81. Blackbaud has a 1-year low of $67.18 and a 1-year high of $104.55.

In related news, EVP Kevin W. Mooney sold 4,466 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $101.00, for a total transaction of $451,066.00. Following the transaction, the executive vice president now directly owns 71,655 shares of the company’s stock, valued at $7,237,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Boruff sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the transaction, the executive vice president now directly owns 50,862 shares in the company, valued at $5,287,104.90. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 1st Global Advisors Inc. grew its position in Blackbaud by 0.6% during the second quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock valued at $822,000 after purchasing an additional 57 shares in the last quarter. Advisor Group Inc. grew its position in Blackbaud by 2.1% during the second quarter. Advisor Group Inc. now owns 3,108 shares of the technology company’s stock valued at $265,000 after purchasing an additional 65 shares in the last quarter. Flinton Capital Management LLC grew its position in Blackbaud by 6.0% during the second quarter. Flinton Capital Management LLC now owns 3,408 shares of the technology company’s stock valued at $292,000 after purchasing an additional 192 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its position in Blackbaud by 5.7% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,775 shares of the technology company’s stock valued at $924,000 after purchasing an additional 525 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Blackbaud by 1.7% during the third quarter. Prudential Financial Inc. now owns 32,760 shares of the technology company’s stock valued at $2,876,000 after purchasing an additional 544 shares in the last quarter.

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About Blackbaud

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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