Blackbaud Inc. (BLKB) Hits New 1-Year High at $71.76
Blackbaud Inc. (NASDAQ:BLKB) hit a new 52-week high during trading on Thursday . The stock traded as high as $71.76 and last traded at $71.00, with a volume of 68,529 shares trading hands. The stock had previously closed at $70.86.
Several equities research analysts recently commented on BLKB shares. William Blair started coverage on Blackbaud in a report on Monday. They set an “outperform” rating on the stock. Evercore Partners Inc. started coverage on Blackbaud in a report on Monday, June 27th. They set a “hold” rating on the stock. Stifel Nicolaus raised their target price on Blackbaud from $70.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Robert W. Baird reiterated an “outperform” rating and set a $70.00 target price on shares of Blackbaud in a report on Wednesday, June 29th. Finally, Zacks Investment Research downgraded Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 12th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Blackbaud presently has an average rating of “Buy” and an average target price of $72.22.
The stock has a market capitalization of $3.26 billion and a P/E ratio of 124.78. The company has a 50-day moving average of $65.99 and a 200 day moving average of $61.51.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, April 27th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The firm earned $171 million during the quarter, compared to analysts’ expectations of $171.69 million. During the same quarter last year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts expect that Blackbaud Inc. will post $1.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 27th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 25th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%.
In related news, EVP Charles T. Cumbaa sold 11,431 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $68.50, for a total transaction of $783,023.50. Following the completion of the transaction, the executive vice president now owns 91,955 shares of the company’s stock, valued at approximately $6,298,917.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony W. Boor sold 14,968 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $62.18, for a total value of $930,710.24. Following the transaction, the chief financial officer now directly owns 127,705 shares of the company’s stock, valued at approximately $7,940,696.90. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Blackbaud by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,204 shares of the company’s stock valued at $55,469,000 after buying an additional 41,080 shares in the last quarter. Marshall Wace LLP acquired a new position in Blackbaud during the fourth quarter valued at $3,356,000. Garelick Capital Partners LP acquired a new position in Blackbaud during the fourth quarter valued at $7,931,000. American Capital Management Inc. boosted its position in Blackbaud by 11.7% in the fourth quarter. American Capital Management Inc. now owns 153,300 shares of the company’s stock valued at $10,096,000 after buying an additional 16,010 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in Blackbaud by 90.7% in the fourth quarter. GSA Capital Partners LLP now owns 17,629 shares of the company’s stock valued at $1,161,000 after buying an additional 8,383 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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