Blackbaud Inc. (BLKB) Sees Strong Trading Volume
Blackbaud Inc. (NASDAQ:BLKB) saw unusually-strong trading volume on Thursday . Approximately 357,750 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 205,875 shares.The stock last traded at $67.22 and had previously closed at $67.94.
Several analysts have recently weighed in on BLKB shares. Zacks Investment Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 12th. Robert W. Baird reissued an “outperform” rating and issued a $70.00 target price on shares of Blackbaud in a report on Wednesday, June 29th. SunTrust Banks Inc. reissued a “buy” rating and issued a $75.00 target price on shares of Blackbaud in a report on Thursday, May 5th. Evercore ISI started coverage on Blackbaud in a report on Monday, June 27th. They issued a “hold” rating and a $70.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on Blackbaud from $70.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $70.00.
The firm has a market cap of $3.07 billion and a P/E ratio of 117.49. The stock has a 50-day moving average of $67.94 and a 200-day moving average of $62.03.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, April 27th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business had revenue of $171 million for the quarter, compared to analyst estimates of $171.69 million. The firm’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Blackbaud Inc. will post $1.94 earnings per share for the current fiscal year.
In related news, Director George H. Ellis sold 1,300 shares of Blackbaud 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 transaction, the director now directly owns 10,660 shares in the company, valued at $654,950.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony W. Boor sold 14,968 shares of Blackbaud 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 completion of the transaction, the chief financial officer now owns 127,705 shares of the company’s stock, valued at $7,940,696.90. The disclosure for this sale can be found here.
Other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP increased its position in Blackbaud by 90.7% in the fourth quarter. GSA Capital Partners LLP now owns 17,629 shares of the company’s stock worth $1,161,000 after buying an additional 8,383 shares during the period. Russell Frank Co increased its position 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 during the period. State of Tennessee Treasury Department purchased a new position in Blackbaud during the fourth quarter worth approximately $2,410,000. Marshall Wace LLP purchased a new position in Blackbaud during the fourth quarter worth approximately $3,356,000. Finally, Rhumbline Advisers increased its position 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 during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.