Blackbaud Inc. (BLKB) Receives Consensus Rating of “Hold” from Brokerages
Blackbaud Inc. (NASDAQ:BLKB) has received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $70.67.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. B. Riley reissued a “buy” rating and issued a $77.00 price target on shares of Blackbaud in a research report on Wednesday, August 3rd. Wunderlich increased their price target on Blackbaud from $69.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Off Wall Street assumed coverage on Blackbaud in a research report on Wednesday, July 27th. They issued a “sell” rating and a $50.00 price target for the company. Finally, William Blair assumed coverage on Blackbaud in a research report on Monday, July 11th. They issued an “outperform” rating for the company.
In other Blackbaud news, Director Joyce Nelson sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $68.11, for a total value of $40,866.00. Following the completion of the transaction, the director now owns 15,254 shares in the company, valued at approximately $1,038,949.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jon W. Olson sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.88, for a total value of $300,960.00. Following the completion of the transaction, the senior vice president now owns 33,404 shares of the company’s stock, valued at approximately $2,234,059.52. The disclosure for this sale can be found here. Insiders own 2.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA increased its position in shares of Blackbaud by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 5,452 shares of the company’s stock valued at $342,000 after buying an additional 23 shares in the last quarter. Aperio Group LLC increased its position in shares of Blackbaud by 11.8% in the first quarter. Aperio Group LLC now owns 18,729 shares of the company’s stock valued at $1,178,000 after buying an additional 1,978 shares in the last quarter. Virginia Retirement System bought a new position in shares of Blackbaud during the first quarter valued at approximately $981,000. Ngam Advisors L.P. increased its position in shares of Blackbaud by 1.9% in the first quarter. Ngam Advisors L.P. now owns 14,298 shares of the company’s stock valued at $899,000 after buying an additional 273 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Blackbaud by 3.5% in the first quarter. TIAA CREF Investment Management LLC now owns 157,220 shares of the company’s stock valued at $9,888,000 after buying an additional 5,387 shares in the last quarter.
Blackbaud (NASDAQ:BLKB) traded down 0.26% during trading on Wednesday, reaching $64.14. 90,495 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $66.46 and its 200-day moving average price is $65.32. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 110.59 and a beta of 1.16. Blackbaud has a 12 month low of $49.89 and a 12 month high of $71.76.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Monday, August 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. The firm earned $180.20 million during the quarter, compared to the consensus estimate of $182.05 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Blackbaud’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Blackbaud will post $1.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 26th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. Blackbaud’s payout ratio is 81.36%.
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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