Blackbaud (BLKB) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Blackbaud (NASDAQ:BLKB) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

BLKB has been the topic of a number of other research reports. Citigroup assumed coverage on shares of Blackbaud in a report on Friday, September 22nd. They set a buy rating and a $100.00 price target on the stock. Zacks Investment Research upgraded shares of Blackbaud from a hold rating to a buy rating and set a $115.00 price target on the stock in a report on Monday, October 30th. B. Riley set a $82.00 price target on shares of Blackbaud and gave the company a hold rating in a report on Thursday, October 26th. Robert W. Baird set a $85.00 price target on shares of Blackbaud and gave the company a hold rating in a report on Sunday, October 1st. Finally, Dougherty & Co assumed coverage on shares of Blackbaud in a report on Tuesday, October 31st. They set a neutral rating on the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $94.75.

Blackbaud (BLKB) traded up $0.12 during trading on Wednesday, hitting $94.54. 148,622 shares of the stock were exchanged, compared to its average volume of 187,333. The company has a market cap of $4,550.00, a P/E ratio of 85.95, a P/E/G ratio of 5.06 and a beta of 0.82. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.19. Blackbaud has a fifty-two week low of $61.98 and a fifty-two week high of $104.55.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $195.51 million for the quarter, compared to the consensus estimate of $196.35 million. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. Blackbaud’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. equities research analysts anticipate that Blackbaud will post 1.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were issued a $0.12 dividend. The ex-dividend date was Monday, November 27th. This represents a $0.48 annualized dividend and a yield of 0.51%. Blackbaud’s dividend payout ratio (DPR) is presently 43.64%.

In related news, CFO Anthony W. Boor sold 1,989 shares of Blackbaud stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total value of $195,439.14. Following the transaction, the chief financial officer now owns 105,342 shares in the company, valued at approximately $10,350,904.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin W. Mooney sold 4,466 shares of Blackbaud stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $101.00, for a total transaction of $451,066.00. Following the completion of the transaction, the executive vice president now owns 71,655 shares in the company, valued at approximately $7,237,155. The disclosure for this sale can be found here. Insiders sold a total of 9,655 shares of company stock worth $972,923 in the last quarter. Insiders own 2.19% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BLKB. ETF Managers Group LLC acquired a new stake in Blackbaud in the 2nd quarter worth $125,000. Northwestern Mutual Wealth Management Co. grew its position in Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after purchasing an additional 39 shares during the last quarter. QS Investors LLC grew its position in Blackbaud by 157.1% in the 2nd quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Blackbaud by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after purchasing an additional 163 shares during the last quarter. Finally, Investment Centers of America Inc. acquired a new stake in Blackbaud in the 2nd quarter worth $203,000.

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About Blackbaud

Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).

Analyst Recommendations for Blackbaud (NASDAQ:BLKB)

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