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

Blackbaud, Inc. (NASDAQ:BLKB) has been given an average recommendation of “Hold” by the five analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $85.33.

A number of brokerages have recently weighed in on BLKB. Robert W. Baird cut their price target on shares of Blackbaud from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday. Baird R W downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st.

Insider Transactions at Blackbaud

In related news, CEO Michael P. Gianoni sold 9,479 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 344,079 shares of the company’s stock, valued at $30,323,682.27. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackbaud

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in Blackbaud by 1.2% in the 4th quarter. Janus Henderson Group PLC now owns 2,885,062 shares of the technology company’s stock valued at $213,263,000 after acquiring an additional 34,600 shares during the period. State Street Corp increased its position in Blackbaud by 3.5% in the 3rd quarter. State Street Corp now owns 1,647,284 shares of the technology company’s stock valued at $139,492,000 after acquiring an additional 56,090 shares during the period. ArrowMark Colorado Holdings LLC increased its position in Blackbaud by 3.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,329,308 shares of the technology company’s stock valued at $98,262,000 after acquiring an additional 45,835 shares during the period. Geneva Capital Management LLC increased its position in Blackbaud by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,175,493 shares of the technology company’s stock valued at $99,541,000 after acquiring an additional 4,122 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Blackbaud by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,019,923 shares of the technology company’s stock valued at $75,393,000 after acquiring an additional 3,119 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Blackbaud Stock Performance

Shares of NASDAQ:BLKB opened at $68.24 on Wednesday. The company’s 50 day moving average price is $76.14 and its two-hundred day moving average price is $80.15. Blackbaud has a 12-month low of $66.07 and a 12-month high of $88.95. The firm has a market cap of $3.36 billion, a PE ratio of -11.57 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 7.40.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.50). Blackbaud had a positive return on equity of 26.30% and a negative net margin of 24.83%. The business had revenue of $302.23 million for the quarter, compared to analyst estimates of $303.41 million. Equities research analysts predict that Blackbaud will post 3.05 earnings per share for the current 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.