Blackbaud (NASDAQ:BLKB) Cut to “Hold” at StockNews.com

Blackbaud (NASDAQ:BLKB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Robert W. Baird decreased their price target on shares of Blackbaud from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th.

Blackbaud Stock Down 1.0 %

Shares of NASDAQ:BLKB opened at $76.71 on Friday. The stock has a market cap of $4.10 billion, a P/E ratio of 2,557.00, a P/E/G ratio of 3.39 and a beta of 1.04. The firm has a fifty day moving average price of $72.59 and a 200 day moving average price of $76.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $295.01 million during the quarter, compared to analysts’ expectations of $299.04 million. Blackbaud had a net margin of 0.16% and a return on equity of 14.59%. Blackbaud’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Sell-side analysts predict that Blackbaud will post 2.35 EPS for the current year.

Insider Transactions at Blackbaud

In other news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.01, for a total value of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares in the company, valued at approximately $11,959,585.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Anthony W. Boor sold 6,900 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.01, for a total value of $545,169.00. Following the completion of the sale, the chief financial officer now owns 151,368 shares in the company, valued at approximately $11,959,585.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 25,354 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.77, for a total transaction of $1,743,594.58. Following the completion of the sale, the chief executive officer now owns 357,104 shares of the company’s stock, valued at approximately $24,558,042.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,897 shares of company stock worth $4,377,015. Company insiders own 1.89% of the company’s stock.

Institutional Trading of Blackbaud

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Blackbaud by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock valued at $483,316,000 after purchasing an additional 23,727 shares during the period. BlackRock Inc. lifted its stake in shares of Blackbaud by 0.7% in the second quarter. BlackRock Inc. now owns 5,516,945 shares of the technology company’s stock valued at $392,696,000 after purchasing an additional 38,024 shares during the period. Morgan Stanley lifted its stake in shares of Blackbaud by 1.7% in the third quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock valued at $301,014,000 after purchasing an additional 72,071 shares during the period. Finally, State Street Corp lifted its stake in shares of Blackbaud by 2.0% in the second quarter. State Street Corp now owns 1,577,991 shares of the technology company’s stock valued at $112,321,000 after purchasing an additional 31,550 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.