Blackbaud (NASDAQ:BLKB) Price Target Cut to $76.00 by Analysts at Robert W. Baird

Blackbaud (NASDAQ:BLKB) had its target price trimmed by Robert W. Baird from $80.00 to $76.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Separately, Baird R W cut Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackbaud has an average rating of “Hold” and an average target price of $85.33.

Blackbaud Stock Performance

NASDAQ:BLKB opened at $68.52 on Wednesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.68 and a current ratio of 0.68. Blackbaud has a fifty-two week low of $66.47 and a fifty-two week high of $88.95. The company has a 50 day simple moving average of $76.63 and a two-hundred day simple moving average of $80.29. The company has a market capitalization of $3.37 billion, a PE ratio of 67.18 and a beta of 1.08.

Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.50). Blackbaud had a return on equity of 20.34% and a net margin of 4.61%. The business had revenue of $302.23 million during the quarter, compared to the consensus estimate of $303.41 million. Research analysts anticipate that Blackbaud will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 9,479 shares of Blackbaud stock in a transaction on Monday, November 25th. The shares were sold at an average price of $88.13, for a total value of $835,384.27. Following the completion of the sale, the chief executive officer now owns 344,079 shares of the company’s stock, valued at approximately $30,323,682.27. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Blackbaud by 52.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 56,336 shares of the technology company’s stock worth $4,770,000 after acquiring an additional 19,270 shares during the last quarter. Entropy Technologies LP bought a new stake in Blackbaud during the 4th quarter worth approximately $377,000. JPMorgan Chase & Co. raised its stake in shares of Blackbaud by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 225,634 shares of the technology company’s stock worth $19,107,000 after purchasing an additional 7,097 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Blackbaud by 1.3% in the fourth quarter. Tributary Capital Management LLC now owns 293,148 shares of the technology company’s stock valued at $21,670,000 after purchasing an additional 3,739 shares in the last quarter. Finally, Simcoe Capital Management LLC purchased a new position in shares of Blackbaud during the third quarter valued at approximately $5,987,000. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Company Profile

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.