Blackbaud Inc. (BLKB) Shares Gap Up to $68.50
Blackbaud Inc. (NASDAQ:BLKB)’s share price gapped up before the market opened on Friday . The stock had previously closed at $68.23, but opened at $68.50. Blackbaud shares last traded at $69.00, with a volume of 90,666 shares traded.
A number of equities research analysts recently commented on the stock. Evercore Partners Inc. assumed coverage on shares of Blackbaud in a report on Monday, June 27th. They set a “hold” rating on the stock. B. Riley restated a “buy” rating and set a $77.00 price objective on shares of Blackbaud in a report on Wednesday, August 3rd. Wunderlich raised their price objective on shares of Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, William Blair assumed coverage on shares of Blackbaud in a report on Monday, July 11th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $70.90.
The stock has a market cap of $3.20 billion and a P/E ratio of 119.55. The firm has a 50-day moving average of $68.10 and a 200-day moving average of $63.71.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The firm had revenue of $180.20 million for the quarter, compared to the consensus estimate of $182.05 million. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Equities research analysts predict that Blackbaud Inc. will post $1.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, August 24th.
In other news, Director Joyce Nelson sold 600 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $68.11, for a total value of $40,866.00. Following the sale, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,038,949.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael P. Gianoni sold 11,500 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.84, for a total transaction of $768,660.00. Following the completion of the sale, the insider now directly owns 254,429 shares in the company, valued at $17,006,034.36. The disclosure for this sale can be found here.
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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