Shares of Blackbaud, Inc. (NASDAQ:BLKB) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $104.83.

A number of brokerages have issued reports on BLKB. BidaskClub lowered Blackbaud from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Evercore ISI reiterated a “sell” rating and issued a $100.00 price target on shares of Blackbaud in a research note on Sunday, August 5th. William Blair lowered Blackbaud from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. Finally, B. Riley increased their price target on Blackbaud from $90.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 2nd.

Shares of BLKB stock opened at $95.65 on Friday. Blackbaud has a 52-week low of $81.64 and a 52-week high of $120.35. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 60.16, a price-to-earnings-growth ratio of 4.40 and a beta of 0.59.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings results on Monday, July 30th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. Blackbaud had a return on equity of 27.70% and a net margin of 8.14%. The business had revenue of $214.60 million during the quarter, compared to analyst estimates of $214.80 million. During the same quarter in the prior year, the business posted $0.54 EPS. Blackbaud’s revenue for the quarter was up 11.8% compared to the same quarter last year. analysts expect that Blackbaud will post 1.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.50%. Blackbaud’s payout ratio is 30.19%.

In other news, SVP Jon W. Olson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $106.00, for a total transaction of $212,000.00. Following the completion of the transaction, the senior vice president now owns 41,169 shares in the company, valued at $4,363,914. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin W. Mooney sold 9,669 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $105.00, for a total value of $1,015,245.00. Following the transaction, the executive vice president now owns 99,226 shares of the company’s stock, valued at approximately $10,418,730. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,669 shares of company stock valued at $1,332,245. Company insiders own 1.55% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Blackbaud by 5.7% during the second quarter. BlackRock Inc. now owns 5,471,100 shares of the technology company’s stock valued at $560,514,000 after purchasing an additional 295,974 shares in the last quarter. Select Equity Group L.P. grew its position in shares of Blackbaud by 9.6% during the first quarter. Select Equity Group L.P. now owns 2,634,891 shares of the technology company’s stock valued at $268,258,000 after purchasing an additional 231,010 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Blackbaud by 2.3% during the first quarter. JPMorgan Chase & Co. now owns 1,006,064 shares of the technology company’s stock valued at $102,427,000 after purchasing an additional 22,924 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Blackbaud by 5.9% during the second quarter. Conestoga Capital Advisors LLC now owns 742,969 shares of the technology company’s stock valued at $76,117,000 after purchasing an additional 41,490 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Blackbaud by 2.8% during the second quarter. Brown Advisory Inc. now owns 693,121 shares of the technology company’s stock valued at $71,012,000 after purchasing an additional 19,169 shares in the last quarter.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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