Blackbaud, Inc. (NASDAQ:BLKB) Receives $86.67 Average PT from Brokerages

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $86.67.

BLKB has been the subject of several analyst reports. Baird R W lowered Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird cut Blackbaud from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $80.00 in a research note on Thursday, October 31st. Raymond James decreased their target price on shares of Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Stifel Nicolaus increased their price target on Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, September 26th.

Insiders Place Their Bets

In other news, Director Sarah E. Nash sold 3,100 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $83.98, for a total transaction of $260,338.00. Following the completion of the transaction, the director now owns 23,723 shares in the company, valued at approximately $1,992,257.54. This represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $88.13, for a total transaction of $835,384.27. Following the completion of the sale, the chief executive officer now owns 344,079 shares in the company, valued at $30,323,682.27. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,923 shares of company stock valued at $3,737,450 over the last 90 days. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. increased its stake in Blackbaud by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,140 shares of the technology company’s stock worth $239,000 after purchasing an additional 184 shares in the last quarter. Raymond James & Associates increased its position in Blackbaud by 86.3% during the second quarter. Raymond James & Associates now owns 19,150 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 8,870 shares during the period. Calamos Advisors LLC raised its position in shares of Blackbaud by 95.9% during the second quarter. Calamos Advisors LLC now owns 38,660 shares of the technology company’s stock valued at $2,945,000 after buying an additional 18,929 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Blackbaud by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 431,841 shares of the technology company’s stock valued at $32,893,000 after acquiring an additional 45,549 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Blackbaud by 0.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 265,920 shares of the technology company’s stock valued at $20,255,000 after purchasing an additional 1,104 shares in the last quarter. 94.21% of the stock is currently owned by institutional investors.

Blackbaud Price Performance

Shares of NASDAQ BLKB opened at $75.71 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.79. The company’s 50-day moving average price is $82.57 and its 200 day moving average price is $80.46. Blackbaud has a 52 week low of $66.47 and a 52 week high of $88.95. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 74.23 and a beta of 1.06.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The company had revenue of $286.70 million for the quarter, compared to analysts’ expectations of $293.74 million. Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, research analysts forecast that Blackbaud will post 2.6 earnings per share for the current fiscal year.

About Blackbaud

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, education institutions, and healthcare organizations in the United States and internationally. The company offers fundraising and engagement solutions, such as Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud eTapestry, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving, Blackbaud Fundraiser Performance Management, Blackbaud Guided Fundraising, and Blackbaud Altru; and financial management solutions comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid and Billing Management.