Blackbaud Inc. (BLKB) Reaches New 12-Month High at $68.68
Blackbaud Inc. (NASDAQ:BLKB)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $68.68 and last traded at $67.92, with a volume of 133,382 shares traded. The stock had previously closed at $67.69.
Several research firms recently issued reports on BLKB. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Evercore Partners Inc. began coverage on Blackbaud in a research report on Monday, June 27th. They set a “hold” rating on the stock. Evercore ISI began coverage on Blackbaud in a research report on Monday, June 27th. They set a “hold” rating and a $70.00 price target on the stock. Stifel Nicolaus raised their price target on Blackbaud from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. Finally, Robert W. Baird restated an “outperform” rating and set a $70.00 price target on shares of Blackbaud in a research report on Wednesday, June 29th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.22.
The firm has a 50 day moving average of $64.84 and a 200-day moving average of $61.41. The firm has a market capitalization of $3.15 billion and a price-to-earnings ratio of 120.46.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business earned $171 million during the quarter, compared to analysts’ expectations of $171.69 million. Blackbaud’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Blackbaud Inc. will post $1.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, May 27th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $0.48 annualized dividend and a dividend yield of 0.71%.
In related news, CFO Anthony W. Boor sold 14,968 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $62.18, for a total value of $930,710.24. Following the sale, the chief financial officer now directly owns 127,705 shares in the company, valued at $7,940,696.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George H. Ellis sold 1,300 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $61.44, for a total value of $79,872.00. Following the completion of the sale, the director now owns 10,660 shares in the company, valued at $654,950.40. The disclosure for this sale can be found here.
Other large investors have recently bought and sold shares of the company. American Capital Management Inc. increased its stake in Blackbaud by 11.7% in the fourth quarter. American Capital Management Inc. now owns 153,300 shares of the company’s stock worth $10,096,000 after buying an additional 16,010 shares in the last quarter. Russell Frank Co increased its stake in Blackbaud by 863.7% in the fourth quarter. Russell Frank Co now owns 21,800 shares of the company’s stock worth $1,455,000 after buying an additional 19,538 shares in the last quarter. Rhumbline Advisers increased its stake in Blackbaud by 7.3% in the fourth quarter. Rhumbline Advisers now owns 62,506 shares of the company’s stock worth $4,117,000 after buying an additional 4,255 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in Blackbaud during the fourth quarter worth approximately $1,380,000. Finally, New York State Common Retirement Fund increased its stake in Blackbaud by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 812,152 shares of the company’s stock worth $53,488,000 after buying an additional 2,100 shares in the last quarter.
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
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