StockNews.com Begins Coverage on Blackbaud (NASDAQ:BLKB)

StockNews.com began coverage on shares of Blackbaud (NASDAQ:BLKB – Get Rating) in a report released on Thursday. The firm issued a hold rating on the technology company’s stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Blackbaud from $70.00 to $66.00 and set a neutral rating for the company in a report on Wednesday, February 15th. TheStreet raised shares of Blackbaud from a d+ rating to a c- rating in a report on Friday, December 2nd.

Blackbaud Price Performance

NASDAQ:BLKB opened at $57.14 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 0.75. Blackbaud has a one year low of $43.54 and a one year high of $65.40. The business has a fifty day moving average price of $59.45 and a 200-day moving average price of $56.03.

Blackbaud (NASDAQ:BLKB – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. The firm had revenue of $274.76 million during the quarter, compared to analyst estimates of $278.24 million. Blackbaud had a positive return on equity of 7.34% and a negative net margin of 4.29%. Blackbaud’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Analysts anticipate that Blackbaud will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael P. Gianoni sold 7,000 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $55.68, for a total value of $389,760.00. Following the completion of the transaction, the chief executive officer now owns 366,358 shares of the company’s stock, valued at approximately $20,398,813.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blackbaud news, CEO Michael P. Gianoni sold 7,000 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $55.68, for a total transaction of $389,760.00. Following the completion of the transaction, the chief executive officer now owns 366,358 shares of the company’s stock, valued at approximately $20,398,813.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Gianoni sold 3,100 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $55.72, for a total transaction of $172,732.00. Following the transaction, the chief executive officer now directly owns 380,258 shares of the company’s stock, valued at approximately $21,187,975.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,561 shares of company stock valued at $2,748,142. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearlake Capital Group L.P. boosted its holdings in shares of Blackbaud by 33.5% during the 2nd quarter. Clearlake Capital Group L.P. now owns 9,751,837 shares of the technology company’s stock valued at $566,289,000 after purchasing an additional 2,445,882 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Blackbaud by 3.6% in the 1st quarter. BlackRock Inc. now owns 5,320,025 shares of the technology company’s stock valued at $318,510,000 after acquiring an additional 186,768 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Blackbaud by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,105,069 shares of the technology company’s stock valued at $224,929,000 after acquiring an additional 81,336 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Blackbaud by 865.3% in the 4th quarter. Morgan Stanley now owns 3,970,062 shares of the technology company’s stock valued at $233,678,000 after acquiring an additional 3,558,788 shares during the last quarter. Finally, P2 Capital Partners LLC lifted its holdings in shares of Blackbaud by 20.7% in the 4th quarter. P2 Capital Partners LLC now owns 1,650,000 shares of the technology company’s stock valued at $97,119,000 after acquiring an additional 282,655 shares during the last quarter. Institutional investors own 97.39% of the company’s stock.

About Blackbaud

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Blackbaud, Inc engages in the provision of cloud-based and on-premises software solutions and related services for the global philanthropic community. It offers solutions for fundraising and constituent relationship management (CRM), marketing, advocacy, accounting, peer-to-peer fundraising, corporate social responsibility (CSR), school management, ticketing, financial management, payment processing, and analytics.