Stifel Nicolaus Cuts Blackbaud (NASDAQ:BLKB) Price Target to $65.00

Blackbaud (NASDAQ:BLKB) had its target price cut by Stifel Nicolaus from $75.00 to $65.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other analysts have also weighed in on BLKB. Wall Street Zen raised shares of Blackbaud from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a research note on Wednesday. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $70.50.

Blackbaud Trading Up 1.2%

Blackbaud stock opened at $63.39 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 12.92. The firm has a 50-day moving average price of $65.29 and a two-hundred day moving average price of $63.86. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -10.97, a PEG ratio of 4.38 and a beta of 1.11. Blackbaud has a 52-week low of $58.05 and a 52-week high of $88.95.

Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, March 4th. The technology company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $274.76 million during the quarter. Blackbaud had a negative net margin of 24.82% and a positive return on equity of 61.72%. Sell-side analysts expect that Blackbaud will post 3.05 earnings per share for the current year.

Insider Activity at Blackbaud

In related news, Director Rupal S. Hollenbeck sold 2,500 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $63.98, for a total transaction of $159,950.00. Following the completion of the sale, the director directly owned 7,966 shares of the company’s stock, valued at $509,664.68. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin P. Gregoire sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $72.67, for a total transaction of $581,360.00. Following the sale, the executive vice president directly owned 111,156 shares of the company’s stock, valued at approximately $8,077,706.52. This represents a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackbaud

A number of large investors have recently made changes to their positions in the company. Avantax Advisory Services Inc. raised its holdings in shares of Blackbaud by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 11,816 shares of the technology company’s stock valued at $733,000 after acquiring an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Blackbaud by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,300 shares of the technology company’s stock valued at $143,000 after acquiring an additional 231 shares during the period. GAMMA Investing LLC raised its holdings in shares of Blackbaud by 46.6% during the third quarter. GAMMA Investing LLC now owns 777 shares of the technology company’s stock valued at $50,000 after acquiring an additional 247 shares during the period. UMB Bank n.a. raised its holdings in shares of Blackbaud by 63.2% during the first quarter. UMB Bank n.a. now owns 692 shares of the technology company’s stock valued at $43,000 after acquiring an additional 268 shares during the period. Finally, Aristides Capital LLC raised its holdings in shares of Blackbaud by 7.8% during the first quarter. Aristides Capital LLC now owns 4,142 shares of the technology company’s stock valued at $257,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

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.