Blackbaud Inc. (BLKB) Shares Gap Up to $68.50
Shares of Blackbaud Inc. (NASDAQ:BLKB) gapped up prior to trading 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.
Several analysts have commented on BLKB shares. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Evercore ISI started coverage on shares of Blackbaud in a research report on Monday, June 27th. They issued a “hold” rating and a $70.00 price objective on the stock. Evercore Partners Inc. started coverage on shares of Blackbaud in a research report on Monday, June 27th. They issued a “hold” rating on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Blackbaud in a research report on Wednesday, June 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Blackbaud from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.90.
The firm has a market cap of $3.20 billion and a P/E ratio of 119.55. The stock’s 50 day moving average is $68.13 and its 200-day moving average is $63.75.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company had revenue of $180.20 million for the quarter, compared to the consensus estimate of $182.05 million. Blackbaud’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. On average, equities research analysts expect that Blackbaud Inc. will post $1.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, August 26th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%.
In related news, EVP Charles T. Cumbaa sold 11,431 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $68.50, for a total transaction of $783,023.50. Following the sale, the executive vice president now directly owns 91,955 shares of the company’s stock, valued at approximately $6,298,917.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Mistretta sold 2,472 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $67.88, for a total transaction of $167,799.36. Following the sale, the executive vice president now directly owns 81,957 shares in the company, valued at $5,563,241.16. 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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