Blackbaud (NASDAQ:BLKB) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Blackbaud (NASDAQ:BLKB) from a hold rating to a buy rating in a research report report published on Thursday morning.

Separately, Robert W. Baird lowered their target price on shares of Blackbaud from $95.00 to $88.00 and set an outperform rating for the company in a research note on Wednesday, February 14th.

Blackbaud Stock Up 1.0 %

Shares of Blackbaud stock opened at $76.72 on Thursday. The business has a 50-day moving average of $72.75 and a 200-day moving average of $75.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $4.10 billion, a PE ratio of 2,557.33, a P/E/G ratio of 3.33 and a beta of 1.04. Blackbaud has a 1-year low of $64.32 and a 1-year high of $88.56.

Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $295.01 million during the quarter, compared to analyst estimates of $299.04 million. Blackbaud had a return on equity of 14.59% and a net margin of 0.16%. Blackbaud’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Blackbaud will post 2.35 EPS for the current fiscal year.

Insider Activity at Blackbaud

In related news, CFO Anthony W. Boor sold 429 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the sale, the chief financial officer now owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Blackbaud news, CEO Michael P. Gianoni sold 25,354 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.77, for a total value of $1,743,594.58. Following the completion of the transaction, the chief executive officer now owns 357,104 shares in the company, valued at approximately $24,558,042.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Anthony W. Boor sold 429 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $74.00, for a total transaction of $31,746.00. Following the completion of the transaction, the chief financial officer now owns 161,368 shares of the company’s stock, valued at approximately $11,941,232. The disclosure for this sale can be found here. Insiders sold a total of 44,897 shares of company stock valued at $3,190,458 in the last quarter. Insiders own 1.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Blackbaud by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,574,584 shares of the technology company’s stock worth $483,316,000 after purchasing an additional 23,727 shares during the last quarter. BlackRock Inc. grew its position in Blackbaud by 0.7% in the 2nd quarter. BlackRock Inc. now owns 5,516,945 shares of the technology company’s stock worth $392,696,000 after purchasing an additional 38,024 shares during the last quarter. Morgan Stanley grew its position in Blackbaud by 1.7% in the 3rd quarter. Morgan Stanley now owns 4,280,633 shares of the technology company’s stock worth $301,014,000 after purchasing an additional 72,071 shares during the last quarter. Finally, State Street Corp grew its position in Blackbaud by 2.0% in the 2nd quarter. State Street Corp now owns 1,577,991 shares of the technology company’s stock worth $112,321,000 after purchasing an additional 31,550 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

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.