Blackbaud (BLKB) Upgraded at Zacks Investment Research

Blackbaud (NASDAQ:BLKB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $103.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.07% from the stock’s previous close.

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 firms have also commented on BLKB. DA Davidson initiated coverage on shares of Blackbaud in a report on Friday, February 2nd. They issued a “neutral” rating and a $95.00 target price on the stock. BidaskClub lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. B. Riley set a $82.00 target price on shares of Blackbaud and gave the company a “hold” rating in a report on Thursday, October 19th. Dougherty & Co initiated coverage on shares of Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating on the stock. Finally, Citigroup set a $112.00 target price on shares of Blackbaud and gave the company a “buy” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $95.33.

Shares of Blackbaud (BLKB) traded down $0.63 during trading on Thursday, reaching $93.58. 594,839 shares of the company’s stock traded hands, compared to its average volume of 325,783. Blackbaud has a twelve month low of $67.18 and a twelve month high of $104.55. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.40. The firm has a market cap of $4,500.26, a PE ratio of 68.31, a price-to-earnings-growth ratio of 5.34 and a beta of 0.75.

In related news, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud 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 sale, the executive vice president now directly owns 71,655 shares of the company’s stock, valued at approximately $7,237,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Boruff sold 800 shares of Blackbaud 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 sale, 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.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Blackbaud by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock valued at $477,772,000 after purchasing an additional 85,826 shares during the last quarter. State Street Corp grew its holdings in shares of Blackbaud by 37.0% during the 2nd quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock valued at $136,159,000 after purchasing an additional 428,948 shares during the last quarter. Jackson Square Partners LLC grew its holdings in shares of Blackbaud by 3.7% during the 3rd quarter. Jackson Square Partners LLC now owns 1,162,056 shares of the technology company’s stock valued at $102,028,000 after purchasing an additional 41,858 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Blackbaud by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 945,845 shares of the technology company’s stock valued at $82,432,000 after purchasing an additional 26,980 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Blackbaud by 11.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 730,244 shares of the technology company’s stock valued at $69,001,000 after purchasing an additional 72,430 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/11/blackbaud-blkb-upgraded-at-zacks-investment-research.html.

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).

Get a free copy of the Zacks research report on Blackbaud (BLKB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply