Blackbaud Inc. (BLKB) Sets New 12-Month High at $68.68
Blackbaud Inc. (NASDAQ:BLKB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $68.68 and last traded at $67.92, with a volume of 133,382 shares traded. The stock had previously closed at $67.69.
Several equities research analysts have issued reports on BLKB shares. Stifel Nicolaus raised 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. SunTrust Banks Inc. restated a “buy” rating and set a $75.00 price objective on shares of Blackbaud in a research report on Thursday, May 5th. B. Riley reaffirmed a “buy” rating and set a $77.00 target price on shares of Blackbaud in a report on Wednesday, May 4th. Evercore Partners Inc. initiated coverage on shares of Blackbaud in a report on Monday, June 27th. They set a “hold” rating on the stock. Finally, Evercore ISI initiated coverage on shares of Blackbaud in a report on Monday, June 27th. They set a “hold” rating and a $70.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $72.22.
The stock’s 50-day moving average price is $65.11 and its 200 day moving average price is $61.43. The stock has a market cap of $3.14 billion and a price-to-earnings ratio of 120.09.
Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm earned $171 million during the quarter, compared to the consensus estimate of $171.69 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts anticipate that Blackbaud Inc. will post $1.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, May 25th.
In other Blackbaud news, Director George H. Ellis sold 1,300 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $61.44, for a total value of $79,872.00. Following the transaction, the director now directly owns 10,660 shares in the company, valued at $654,950.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Mistretta sold 2,472 shares of the business’s 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 completion of the transaction, the executive vice president now owns 81,957 shares in the company, valued at $5,563,241.16. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the stock. Russell Frank Co boosted 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 last quarter. Swiss National Bank boosted its position in Blackbaud by 3.7% in the fourth quarter. Swiss National Bank now owns 62,553 shares of the company’s stock worth $4,120,000 after buying an additional 2,253 shares during the last quarter. Rhumbline Advisers boosted 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 last quarter. California Public Employees Retirement System boosted its position in Blackbaud by 4.4% in the fourth quarter. California Public Employees Retirement System now owns 107,800 shares of the company’s stock worth $7,100,000 after buying an additional 4,500 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Blackbaud by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 812,152 shares of the company’s stock worth $53,488,000 after buying an additional 2,100 shares during 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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