Blackbaud (NASDAQ:BLKB) had its price objective reduced by equities research analysts at Robert W. Baird from $105.00 to $82.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 10.69% from the company’s previous close.
BLKB has been the subject of a number of other reports. William Blair lowered shares of Blackbaud from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. KeyCorp initiated coverage on shares of Blackbaud in a research note on Monday, July 23rd. They set a “sector weight” rating for the company. TheStreet lowered shares of Blackbaud from a “b” rating to a “c+” rating in a research note on Wednesday. BidaskClub lowered shares of Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Evercore ISI reissued a “sell” rating and set a $100.00 target price on shares of Blackbaud in a research note on Sunday, August 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $96.88.
Shares of NASDAQ:BLKB opened at $74.08 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.35. Blackbaud has a fifty-two week low of $69.62 and a fifty-two week high of $120.35. The stock has a market cap of $4.93 billion, a P/E ratio of 46.59, a price-to-earnings-growth ratio of 4.69 and a beta of 0.62.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $214.60 million during the quarter, compared to analyst estimates of $214.80 million. Blackbaud had a net margin of 8.14% and a return on equity of 27.70%. Blackbaud’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. On average, equities analysts expect that Blackbaud will post 1.91 earnings per share for the current fiscal year.
In other news, Director George H. Ellis sold 2,652 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $96.16, for a total value of $255,016.32. Following the completion of the sale, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $743,316.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew M. Leitch sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $95.72, for a total transaction of $287,160.00. Following the completion of the sale, the director now directly owns 24,457 shares of the company’s stock, valued at $2,341,024.04. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.
Several large investors have recently modified their holdings of BLKB. Assetmark acquired a new stake in shares of Blackbaud in the 3rd quarter worth approximately $0. Smithfield Trust Co. lifted its stake in shares of Blackbaud by 2,492.5% in the 2nd quarter. Smithfield Trust Co. now owns 1,037 shares of the technology company’s stock worth $106,000 after acquiring an additional 997 shares during the period. LS Investment Advisors LLC lifted its stake in shares of Blackbaud by 3.6% in the 2nd quarter. LS Investment Advisors LLC now owns 1,696 shares of the technology company’s stock worth $115,000 after acquiring an additional 59 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Blackbaud by 18.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,498 shares of the technology company’s stock worth $115,000 after acquiring an additional 230 shares during the period. Finally, Invictus RG lifted its stake in shares of Blackbaud by 264.9% in the 1st quarter. Invictus RG now owns 1,912 shares of the technology company’s stock worth $120,000 after acquiring an additional 1,388 shares during the period.
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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