Brokerages Set Blackbaud, Inc. (NASDAQ:BLKB) PT at $86.67

Shares of Blackbaud, Inc. (NASDAQ:BLKB) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $86.67.

A number of brokerages have recently issued reports on BLKB. Stifel Nicolaus boosted their target price on shares of Blackbaud from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Robert W. Baird cut shares of Blackbaud from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $80.00 in a research report on Thursday, October 31st. Baird R W lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Raymond James lowered their price target on Blackbaud from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

Blackbaud Stock Performance

Blackbaud stock opened at $78.07 on Wednesday. Blackbaud has a 1-year low of $66.47 and a 1-year high of $88.95. The company’s 50-day moving average is $79.40 and its 200 day moving average is $80.26. The firm has a market capitalization of $3.96 billion, a P/E ratio of 76.54 and a beta of 1.08. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.68 and a quick ratio of 0.68.

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

Insider Buying and Selling at Blackbaud

In related news, COO Kevin P. Gregoire sold 6,619 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $85.68, for a total transaction of $567,115.92. Following the completion of the sale, the chief operating officer now directly owns 99,096 shares in the company, valued at $8,490,545.28. This represents a 6.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael P. Gianoni sold 9,479 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the sale, the chief executive officer now directly owns 344,079 shares in the company, valued at approximately $30,323,682.27. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,923 shares of company stock valued at $3,737,450. Company insiders own 1.95% of the company’s stock.

Institutional Trading of Blackbaud

Several hedge funds have recently modified their holdings of BLKB. Quest Partners LLC grew its position in shares of Blackbaud by 2,950.0% in the 2nd quarter. Quest Partners LLC now owns 427 shares of the technology company’s stock worth $33,000 after buying an additional 413 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Blackbaud by 42.0% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the technology company’s stock worth $99,000 after purchasing an additional 347 shares during the last quarter. Blue Trust Inc. increased its position in shares of Blackbaud by 190.4% during the third quarter. Blue Trust Inc. now owns 1,597 shares of the technology company’s stock worth $135,000 after purchasing an additional 1,047 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Blackbaud during the 3rd quarter valued at $142,000. Finally, Heritage Family Offices LLP boosted its position in shares of Blackbaud by 5.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,985 shares of the technology company’s stock worth $221,000 after purchasing an additional 166 shares in the last quarter. 94.21% of the stock is owned by hedge funds and other institutional investors.

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.