Analysts Set Blackbaud, Inc. (BLKB) Price Target at $81.71
Blackbaud, Inc. (NASDAQ:BLKB) has been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $84.00.
A number of analysts have recently issued reports on the company. B. Riley restated a “neutral” rating and issued a $78.00 target price on shares of Blackbaud in a report on Wednesday, August 2nd. Citigroup Inc. assumed coverage on Blackbaud in a report on Friday. They issued a “buy” rating and a $100.00 target price for the company. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Stifel Nicolaus restated a “buy” rating and issued a $96.00 target price on shares of Blackbaud in a report on Friday, July 21st. Finally, Benchmark Co. reduced their target price on Blackbaud from $100.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, June 27th.
Blackbaud (BLKB) traded up 2.36% during trading on Wednesday, reaching $84.97. The company had a trading volume of 223,487 shares. The stock has a market cap of $3.96 billion, a PE ratio of 81.78 and a beta of 0.82. The company has a 50-day moving average price of $84.91 and a 200 day moving average price of $82.88. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.81.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.12). The business had revenue of $192.50 million during the quarter, compared to analysts’ expectations of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. Blackbaud’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. On average, analysts anticipate that Blackbaud will post $2.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, August 28th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. Blackbaud’s dividend payout ratio is 47.06%.
In related news, Director Sarah E. Nash sold 1,105 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $84.78, for a total transaction of $93,681.90. Following the completion of the sale, the director now directly owns 22,272 shares in the company, valued at $1,888,220.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George H. Ellis sold 3,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $85.40, for a total value of $256,200.00. Following the sale, the director now owns 9,011 shares of the company’s stock, valued at $769,539.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,752 shares of company stock valued at $1,771,517. 2.74% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. ETF Managers Group LLC purchased a new stake in shares of Blackbaud during the second quarter worth $125,000. Northwestern Mutual Wealth Management Co. raised its holdings in Blackbaud by 2.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock valued at $132,000 after buying an additional 39 shares in the last quarter. QS Investors LLC raised its holdings in Blackbaud by 157.1% during the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock valued at $154,000 after buying an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Blackbaud by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock valued at $163,000 after buying an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. bought a new position in Blackbaud during the second quarter valued at about $203,000.
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Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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