Blackbaud (NASDAQ:BLKB) was downgraded by analysts at Evercore ISI from an “in” rating to an “underperform” rating in a report released on Monday, MarketBeat reports.
Several other brokerages have also recently weighed in on BLKB. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. B. Riley raised their target price on Blackbaud from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus raised their target price on Blackbaud from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research raised Blackbaud from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Thursday, February 8th. Finally, DA Davidson assumed coverage on Blackbaud in a research note on Friday, February 2nd. They set a “neutral” rating and a $95.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $97.50.
Blackbaud (NASDAQ BLKB) opened at $109.58 on Monday. Blackbaud has a 52 week low of $74.46 and a 52 week high of $116.07. The stock has a market capitalization of $5,348.68, a price-to-earnings ratio of 67.02, a PEG ratio of 5.63 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.40.
In related news, SVP Jon W. Olson sold 1,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $103.22, for a total value of $154,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Gianoni sold 28,839 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $96.84, for a total value of $2,792,768.76. Following the completion of the transaction, the insider now owns 332,419 shares of the company’s stock, valued at approximately $32,191,455.96. The disclosure for this sale can be found here. Insiders sold a total of 94,612 shares of company stock valued at $9,344,203 in the last quarter. 2.19% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. acquired a new position in shares of Blackbaud in the 4th quarter valued at $157,000. First Republic Investment Management Inc. acquired a new position in shares of Blackbaud in the 4th quarter valued at $204,000. Zeke Capital Advisors LLC acquired a new position in shares of Blackbaud in the 4th quarter valued at $213,000. Two Sigma Advisers LP acquired a new position in shares of Blackbaud in the 4th quarter valued at $217,000. Finally, LPL Financial LLC acquired a new position in shares of Blackbaud in the 4th quarter valued at $244,000.
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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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