Blackbaud, Inc. (BLKB) Forecasted to Earn Q1 2019 Earnings of $0.51 Per Share

Blackbaud, Inc. (NASDAQ:BLKB) – Investment analysts at B. Riley issued their Q1 2019 earnings estimates for shares of Blackbaud in a research note issued to investors on Thursday. B. Riley analyst K. Liu anticipates that the technology company will post earnings per share of $0.51 for the quarter. B. Riley currently has a “Neutral” rating and a $90.00 target price on the stock. B. Riley also issued estimates for Blackbaud’s Q2 2019 earnings at $0.58 EPS.

A number of other analysts have also commented on the company. BidaskClub lowered Blackbaud from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Robert W. Baird boosted their price target on Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Monday, October 30th. Citigroup set a $112.00 price target on Blackbaud and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Dougherty & Co started coverage on Blackbaud in a report on Tuesday, October 31st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $95.33.

Blackbaud (NASDAQ:BLKB) opened at $93.58 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.81. The firm has a market capitalization of $4,500.23, a PE ratio of 56.37, a price-to-earnings-growth ratio of 5.34 and a beta of 0.75. Blackbaud has a twelve month low of $67.18 and a twelve month high of $104.55.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Tuesday, February 27th. Blackbaud’s dividend payout ratio is currently 35.04%.

In related news, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud 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 sale, the executive vice president now owns 71,655 shares of the company’s stock, valued at $7,237,155. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Boruff sold 800 shares of Blackbaud stock in a transaction dated Wednesday, November 22nd. The shares were 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 in the company, valued at approximately $5,287,104.90. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in BLKB. State Street Corp increased its position in shares of Blackbaud by 37.0% in the second quarter. State Street Corp now owns 1,587,812 shares of the technology company’s stock valued at $136,159,000 after acquiring an additional 428,948 shares during the last quarter. Koch Industries Inc. acquired a new position in Blackbaud during the second quarter worth approximately $375,000. FMR LLC increased its position in Blackbaud by 142.0% during the second quarter. FMR LLC now owns 345,736 shares of the technology company’s stock worth $29,647,000 after buying an additional 202,843 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Blackbaud during the second quarter worth approximately $12,284,000. Finally, BlackRock Inc. increased its position in Blackbaud by 1.7% during the fourth quarter. BlackRock Inc. now owns 5,056,336 shares of the technology company’s stock worth $477,772,000 after buying an additional 85,826 shares during 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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