Blackbaud Inc. (BLKB) Earns Outperform Rating from Analysts at JMP Securities
Several other equities analysts have also recently weighed in on the company. B. Riley restated a buy rating and set a $77.00 price target on shares of Blackbaud in a report on Wednesday, August 3rd. Wunderlich raised their price target on Blackbaud from $69.00 to $78.00 and gave the company a buy rating in a report on Tuesday, August 2nd. Stifel Nicolaus raised their price target on Blackbaud from $70.00 to $73.00 and gave the company a buy rating in a report on Thursday, June 30th. Evercore Partners Inc. began coverage on Blackbaud in a report on Monday, June 27th. They set a hold rating for the company. Finally, Evercore ISI began coverage on Blackbaud in a report on Monday, June 27th. They set a hold rating and a $70.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $70.90.
Blackbaud (NASDAQ:BLKB) opened at 63.75 on Thursday. The stock has a market capitalization of $2.94 billion, a PE ratio of 109.91 and a beta of 1.16. Blackbaud has a 1-year low of $49.89 and a 1-year high of $71.76. The stock’s 50 day moving average price is $65.90 and its 200 day moving average price is $65.38.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, August 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. Blackbaud had a return on equity of 27.31% and a net margin of 3.97%. The business had revenue of $180.20 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that Blackbaud will post $1.92 earnings per share for the current fiscal year.
In related news, SVP Jon W. Olson sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $66.88, for a total transaction of $300,960.00. Following the completion of the sale, the senior vice president now directly owns 33,404 shares of the company’s stock, valued at approximately $2,234,059.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael P. Gianoni sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $66.84, for a total value of $768,660.00. Following the sale, the insider now directly owns 254,429 shares of the company’s stock, valued at $17,006,034.36. The disclosure for this sale can be found here. Corporate insiders own 2.74% of the company’s stock.
Several large investors have recently modified their holdings of the company. Atlanta Capital Management Co. L L C raised its stake in shares of Blackbaud by 5.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,539,544 shares of the company’s stock worth $308,235,000 after buying an additional 254,792 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Blackbaud by 0.5% in the second quarter. Janus Capital Management LLC now owns 4,182,144 shares of the company’s stock worth $283,968,000 after buying an additional 19,457 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Blackbaud by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,772,504 shares of the company’s stock worth $256,154,000 after buying an additional 61,918 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Blackbaud by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,116,655 shares of the company’s stock worth $211,621,000 after buying an additional 98,142 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in shares of Blackbaud by 12.8% in the second quarter. Champlain Investment Partners LLC now owns 1,252,110 shares of the company’s stock worth $85,018,000 after buying an additional 141,820 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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