Blackbaud Inc. (BLKB) Sees Large Volume Increase
Blackbaud Inc. (NASDAQ:BLKB) shares saw an uptick in trading volume on Tuesday . 257,602 shares traded hands during mid-day trading, a decline of 1% from the previous session’s volume of 260,862 shares.The stock last traded at $67.98 and had previously closed at $69.00.
A number of brokerages recently weighed in on BLKB. B. Riley reaffirmed a “buy” rating and issued a $77.00 target price on shares of Blackbaud in a research note on Wednesday, May 4th. Zacks Investment Research lowered shares of Blackbaud from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $75.00 target price on shares of Blackbaud in a research note on Thursday, May 5th. Wunderlich upped their target price on shares of Blackbaud from $69.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Finally, Evercore ISI started coverage on shares of Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating and a $70.00 target price for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $70.90.
The stock has a market cap of $3.04 billion and a P/E ratio of 113.733. The stock’s 50 day moving average price is $68.44 and its 200 day moving average price is $62.84.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, August 1st. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The company had revenue of $180.20 million for the quarter, compared to analyst estimates of $182.05 million. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. Equities analysts predict that Blackbaud Inc. will post $1.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, August 26th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, August 24th.
In other Blackbaud news, SVP Jon W. Olson sold 4,500 shares of Blackbaud stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $66.88, for a total value 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 $2,234,059.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George H. Ellis sold 1,300 shares of Blackbaud stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $61.44, for a total transaction of $79,872.00. Following the completion of the sale, the director now directly owns 10,660 shares of the company’s stock, valued at $654,950.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Blackbaud stock. Dimensional Fund Advisors LP increased its stake in shares of Blackbaud Inc. (NASDAQ:BLKB) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 842,204 shares of the company’s stock after buying an additional 41,080 shares during the period. Dimensional Fund Advisors LP owned about 1.85% of Blackbaud worth $55,469,000 as of its most recent SEC filing.
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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