Blackbaud Inc. (NASDAQ:BLKB) has been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have 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 $70.67.
BLKB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Evercore ISI started coverage on shares of Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating and a $70.00 price objective on the stock. Evercore Partners Inc. started coverage on shares of Blackbaud in a research note on Monday, June 27th. They issued a “hold” rating on the stock. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price objective on shares of Blackbaud in a research note on Wednesday, June 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Blackbaud from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, June 30th.
In related news, insider Michael P. Gianoni sold 11,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.84, for a total value of $768,660.00. Following the sale, the insider now directly owns 254,429 shares in the company, valued at approximately $17,006,034.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jon W. Olson sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $66.88, for a total transaction of $300,960.00. Following the completion of the sale, the senior vice president now owns 33,404 shares in the company, valued at $2,234,059.52. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BLKB. TimesSquare Capital Management LLC acquired a new stake in Blackbaud during the second quarter valued at approximately $28,237,000. Mesirow Financial Investment Management Equity Management acquired a new stake in Blackbaud during the second quarter valued at approximately $22,609,000. Atlanta Capital Management Co. L L C raised its stake in Blackbaud by 5.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,539,544 shares of the company’s stock valued at $308,235,000 after buying an additional 254,792 shares in the last quarter. Henderson Group PLC raised its stake in Blackbaud by 57.6% in the second quarter. Henderson Group PLC now owns 490,805 shares of the company’s stock valued at $33,326,000 after buying an additional 179,382 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Blackbaud by 12.8% in the second quarter. Champlain Investment Partners LLC now owns 1,252,110 shares of the company’s stock valued at $85,018,000 after buying an additional 141,820 shares in the last quarter.
Blackbaud (NASDAQ:BLKB) opened at 63.76 on Wednesday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 109.93 and a beta of 1.16. Blackbaud has a 12-month low of $49.89 and a 12-month high of $71.76. The firm’s 50-day moving average is $66.11 and its 200 day moving average is $65.33.
Blackbaud (NASDAQ:BLKB) last announced its earnings results on Monday, August 1st. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The business earned $180.20 million during the quarter, compared to analyst estimates of $182.05 million. Blackbaud had a net margin of 3.97% and a return on equity of 27.31%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities analysts expect that Blackbaud will post $1.92 EPS for the current year.
Blackbaud, Inc is a provider of software and services for the global philanthropic community. The Company’s segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU). The GMBU is focused on marketing, sales, delivery and support to all emerging and mid-sized prospects and customers in North America.
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